The biggest element in your credit ratings is whether you spend your bills on time
Your re re re Payment History (35% of the FICO Score)
Credit ratings are created to help lenders decide how likely you might be to pay for your bills on time. That you’re a risky applicant if you have a history of late payments, accounts going to collections, or bankruptcy, those are strong indicators.
Many delinquencies, like belated re payments, will continue to be on your own credit history for seven years!
A brief history of belated re re re payments as well as other behavior that is delinquent have a stronger negative impact on your credit ratings for quite some time.
Various types of reports are thought in this scoring category, from bank cards to mortgages to figuratively speaking. Your re payment history for each account in your reports are going to be considered, and facets like exactly exactly just how late the re payment had been, how many times you’re belated, and exactly how recently any belated payments occurred might all come right into play.
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