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## Do You Understand The 5 Components Of Your Credit Score?

In the last half century, or so, the number, and the number of people, using some form of personal credit, has grown exponentially and exponentially! Although, credit reporting agencies, freely, publishing, how to calculate, personal note, many seem confused, what is needed, and necessary, to protect, and improve, yours! It is important, these three, main agencies, use, slightly different methods, and/or, measures, to calculate these, and, therefore, it is wise, to check your report, each of these, at least, once a year! (Note: By law, you are entitled to receive, once a year, each of these, at no cost to you). With that in mind, this article will try to, briefly, look, review, review, and discuss, the 5 main components, which influence your articles.

1. **Payment history: **Your payment history contributes, approximately, 35%, to the total score! Even, if later, on a few occasions, especially, if that happens, somehow – recently (usually, it is considered, up to, and including, 3 to 7 years, later). Some believe that, if they did not, or, they are very rare to borrow, they will have a better rate, but, the agencies want a payment history, so that it clearly shows, shows, to them, you can handle it, in a responsible way! Therefore, it is wise to have, perhaps, 2 to 5 cards, and, perhaps, a car payment, and pay it off, quickly, every time!

2. **Credit and usage: **Is the total amount owed, considered appropriate? In comparison, existing, debts, how much can you do, have, outstanding? In general, using, 30% or less, than you can, is required! Remember, this category, in general, accounts for about 30% of the total!

3. **Length of credit history: **The length of your credit history, often, determines about 15% of the total! Lenders, usually, want a combination of these, and others, and a long time / age, obviously, to show, to them, a reliable behavior, about how you use money!

4. **New case: **Every time, someone gets a new credit, it affects your entire score. If you have too much of this recent activity, it’s ruining your rating! Be careful, that, being too attracted, to a certain offer of the shop, which can, weaken, your whole evaluation! This category accounts for about 10%.

5. **Credit mix: **A person’s credit score, usually considered, is worth, about 10% of the total evaluation! If, everything, a person has a debt, on payment cards, etc., is considered, there is little force, rather than there is a mix, in the type, and the length, what is all your debt, what can it be!

Be a smart customer, and learn, handle credit, and debt, more reliably, and protect your points! It is important, but will you continue, continue with the required level of discipline and commitment?

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