Credit history free New Hampshire

As important as your credit score is to your financial health, very few people truly know how their scores add up. And plenty of consumers get it wrong on the important questions, like how to raise your score or how long a black mark lasts. MoneyWatchs Jill Schlesinger asked John Ulzheimer, president of consumer education for Credit.com, to name the most credit history free New Hampshire common misunderstandings and to tell us what will really hurt (or help) your score. With FICO scores typically ranging from credit history free New Hampshire 350 to 850, 35% of the points on your score are directly tied to whether youre making your payments on time, says Ulzheimer. That leaves 65% of your score that has nothing to do with missed payments. one free credit report You cannot hang your hat on whether or not you credit history free New Hampshire are just making your payments on time, and assume you have fantastic credit he says.

Im quite sure the credit card industry started that [rumor], Ulzheimer says with a chuckle. Although carrying balances will cost you in interest and financing charges, from a credit score perspective, theres nothing credit history free New Hampshire wrong with carrying a credit history free New Hampshire balance on your credit card. But very large balances will affect your creditization the percentage of your credit limit that youre carrying as a balance. 1 free credit report per year You need Javascript enabled to view the video player. What you really want is a relatively low balance never more than 15 credit history free New Hampshire percent of your overall limit.

Although a lot of people treat them as though they are interchangeable, credit reports and credit scores are two completely different things.

Employers in most states can look up your credit report as part of a pre-employment screening (and during your term of employment) but they do not have access to your credit score.

Any lender, insurance company, landlord, or utility provider can buy your score from one of the three accredited credit report agencies.

They use that score to determine the amount of risk theyre taking in doing business with you then use it to grant or deny you, and to set the terms. history credit report This one is partly true: Whether you face a short sale, a foreclosure or bankruptcy proceedings, youll have that black mark on your credit report for at least seven years. (A bankruptcy will actually be on there for 10.) But your credit score does improve as that item gets older; you just need patience and good behavior.