This portion of your score is based on how well you keep up with your bills.
When card companies request your information from credit bureaus, your score may drop a few points.
If your score is below 760, you'll be offered fewer loan choices at higher rates.
Instances that happened two years ago or less drag your score down the most.
The average age of your accounts and how much available credit you use also affect your score.
Most credit monitoring services will provide your score for free when you sign up for their service.
What you really need to know is your score around the time you will be applying for credit.
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Generally, though, you don't need to know your score on a day-to-day basis.
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Maintaining a good payment history on different types of credit helps your score.
Inquiries from potential creditors count against you, but your own requests to review credit reports do not impact your score.
Lenders use your score to determine whether to approve you for loans and credit cards and at what interest rates.
Once you get your report, you can then correct any errors you find that could be hurting your score.
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Inquiries for new credit stay on your credit record for two years but impact your score for just a year.
However, opening a lot of accounts in a short period of time to increase your available credit could actually hurt your score.
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In the same way, closing old accounts can hurt your score too.
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Late payments can affect your score for a couple of years, while paying down a high balance can have an immediate positive impact.
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The higher your score, the more likely you are to get audited because, according to the IRS, the more likely you are cheating on your taxes.
If you can find a lender that places your score in a higher tier, it could result in significant savings over the term of your loan.
While it is unlikely that your insurance score will ever be perfect, there are a few relatively painless steps that you can take to improve your score.
But seeking several new cards at once can raise concerns that you may be suddenly in need of credit for some reason and that could hurt your score.
Experts recommend taking the GMAT by May so you have time to retake the test in case you want to improve your score by the mid-October application deadline.
For instance, refinancing your mortgage to a lower rate may improve your finances, but it also will cause credit inquiries to show up on your report, which could lower your score.
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Nevertheless, the higher your score, the greater your savings.
One caveat: If you plan to get a new home or car loan in the next six months, refrain from opening any new accounts so that your score will be as high as possible.
The more you made, the higher your score.
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This portion of your score takes into account the number of credit inquiries, number of recently opened accounts, the amount of time since the opening of new accounts, and credit inquiries and the re-establishment of a positive credit history after past payment problems.
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More recent data is weighed more heavily. (This was a recent change.) If you had picture A, B, and C up for one year, and then took them down in favor of pictures X, Y, and Z, then within just a couple weeks your score would be determined mostly by X, Y, and Z.
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