Delinquencies on your accounts.
A delinquency is a payment that was made 30 or more days late. None or very few delinquencies on your account can cause your score to improve.
What You Can Do
Keep paying bills on time every month since it is important for maintaining a good credit score. If you remain behind with any payments, bring them current as soon as possible, and then make future payments on time. Over time, this will have a positive impact on your score. Continue reading Positive Score Factors
Your credit report and score can influence the type of home you can afford in different ways. It influences the interest rate of your mortgage, the total amount of money you are qualified to borrow, the lending terms of your mortgage agreement. It is recommended that you check your credit score and report at least three months prior to applying for a home loan. Buying a home is the biggest investment in most people’s lifetime. So, take the time to do your homework, ensure that your credit score is based on accurate credit report information, in order to find a home that fits your budget.
Your VantageScore® and grade is based primarily on a 24-month review of your credit report. Your credit report has information – such as your history of payment punctuality, the total amount of your available credit, the total amount and type of debt you have, the number of open and active accounts, and the longevity of your relationships with creditors.
“Only available as part of TransUnion® Credit Monitoring, the Credit Score Simulator tool shows you ways your current credit score would change based on future actions and events.”
The online credit score simulator is a useful tool that provides an insight of how different factors may affect your credit score. For example, just applying for a new credit card may downgrade your credit score by 2 points.
“With Credit Score Simulator, you won’t just know where your credit score stands, but also where it could go.”
Credit Score Simulator Highlights:
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