So now we let’s make it clear that today we are going to get all the answers to questions related to credit score and the factors that affect your credit score in 2018.
Alright Ready! Let’s figure out answers to below queries
- Give us five tips that will help you build your credit score?
- Factors affecting credit rating of a company ?
- What affects credit score negatively ?
- In what ways can a negative credit report affect your financial goals? /li>
Lets get into the point watch the video below related to credit score factors and tips in 2018:
Here are six things that will effect your credit score in 2018
1.Repayment History ( Weightage 35%):
- It is important to make timely repayments on your loans.
- Late payments affects your credit score negatively
2.Credit Utilization ( Weightage 30%):
- Means what % of your available credit are you using.
- To have a good score utilize less than 30% of credit
3.Loan Tenure ( Weightage 15%):
Longer history of repayment on time is good
4.Search Frequency / Credit Enquiries (Weightage 10%):
- Many recent enquiries affect your score negatively
5.Loan Mix ( weightage 10%):
- Having both secured and unsecured loans will be good .
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