People often ask me, you are driving so many credit cards, credit is very low?In fact quite the contrary, my credit history for about 2.5 years now, a total of 16 credit cards, the three major credit agencies to score: 779 (TU), 775 (EX), 767 (EQ).This score should be able to get the lowest interest rate in the loan.In fact, credit history and score is not a mystery, just figure out the principles that everyone can get a good grade.
0. What is a credit score and credit history?
- Decided to apply for a credit card through the probability/sec
- Determine the loan interest rate
- Affect the credit card company sends you a credit card offer
1. What is credit history?
Credit history simply is a report, records information about your credit, usually have the following point will affect your credit score:
- Credit card records (each one, including a second card)
- Payment records
- Opening/checkpoint time
- Your credit record
- Banks call records (HP)
- Call record when applying for a credit card
- Apply line call recording
- Mortgage/car payments/contract machine account called records (HP)
- Bankruptcy, debt record of
2. Who provides credit report?
There are three main institutions that provide credit history:
The three agencies will collect your credit card records, credit records, and bankruptcy records in arrears, and call records referred to above (HP) depends on the Bank or dealership wants to see a credit on your credit records.So, call recording (HP) the above three organisations may vary greatly.
3. What is the credit score?
Credit score is based on your credit report to calculate a score, each of which will be based on your credit report, you assess a credit score.Thus, query your credit at the Bank, you can have a Visual quantitative data, no longer had to carefully examine your credit report.
Credit scores weighted by the following components:
- Payment history (35%)
- Arrears pay
- Amount (30%)
- Credit card amount
- Loan amount owed
- Credit history (15%)
- Average credit card holder
- Loan time
- New account (10%)
- New credit card
- The new loan for the
- Credit type (10%)
- Credit card
4. How to improve credit score?
Credit: paying, less outstanding > credit history long > credit types
Reduces credit: debt collection, bankruptcy > default > new account > call credit when applying for the line of credit/apply records (HP) > called mortgage car loans credit history (HP) > contract machine, called network account your credit record (HP)
Due to different model of calculating credit scores is not open to everyone, so just from my experiences give some suggestions:
- On time repayment (repaid the full amount before the due date)
- Monthly billing arrears below the credit limit before 1%-5%
- Not all credit card debts (keep 2-3 and credit card arrears and lines)
- Hold a certain amount of credit (credit history makes the influence of new accounts is less)
- Do not turn off the first apply for several credit cards (improve the average credit period)
- Do not arbitrarily raise credit limit (possible HP)
- Shen Ka ago considered (if needed, whether into don't mess Shen)
- Credit types (such as car loans, student loans)
- Often credit reports (see if there is an error message)
5. How to get a free credit report and credit score
- Three major credit reports (can get it once a year, it is highly recommended you receive)
- CreditKarma provide TransUnion and Equifax credit report and score for reference only (interface well, updates, scores and compare far removed from real score)
- CreditSeame provide TransUnion credit report and score for reference only (General)
- CITI credit cards provide Equifax credit score (a history graph you can see)
- Chase slate card provided Experian credit score
- Barclay, and Discover credit cards provide TransUnion credit score (a history graph you can see)
- AMEX provides Experian credit score
Methods mentioned above require a SSN for a query and receive.
Credit report and credit score for credit cards of the people is the most fundamental knowledge, only credit history and credit scores outlined in this paper, an in-depth analysis and related credit card policy will be given at a later date.