By Wand Agency
Shaan Stevens -What Is an Excellent Credit Score?
How Your Score is Calculated
Your credit score is calculated using your payment history, employment history, amount of debt, amount of credit and credit history.
How to Get an Excellent Credit Score
Excellent credit scores are marked by timely payments, low debt and moderate credit. Paying bills on time and keeping a low balance on your credit cards will help you improve your credit score. Review your credit history regularly for accuracy and look for any red flags
Why Credit Scores Decreases
Late payments, delinquencies, bankruptcies, foreclosures, unemployment, having too much credit and credit inquiries can lower your credit score.
If You Don't Have a Credit Score
If you have yet to establish a credit history, you may not have a credit score. Consider opening up a secured or unsecured credit card, and then use it regularly and pay the balance off each month. Doing this will put you on the fast track to excellent credit.
When Credit Scores Change
Credit scores are updated frequently. You may be able to significantly improve your score within a couple of months with responsible spending and saving.
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