Credit Entry #1

A credit score is a mathematical model that evaluates many types of information on file. Various factors determine your credit score and I will be going over those over the next week or so. Each factor carries a certain percentage that determines a credit score. One factor is your payment history. It makes up 35% of your credit score! Any recent delinquent payments, frequency of delinquent payments and the severity can affect your score in a negative way. A 90 day would be more sever than a 30 day for instance. Tomorrow we will discuss two of the other factors. Have a great day!