Do you know what makes up your credit score love?

It's ok love! they did not teach us that in school. You know how the school system works. But, I am here to educate you and teach you one or several things!

Well, it’s a sum of everything that is on your credit report. Some say to focus on your score, I say, focus on your credit report.

When going through underwriting to obtain a loan, they dissect your credit report. YES, your score is important, however, if your report is 100% ACCURATE as the law states, then it will reflect on your score.

1. One of the biggest factor is your payment history, so paying your cards/loans on time is vital to having a “great” credit score. It is worth 35% of your score!

2. Second one is your credit utilization. Best practice is to pay your credit cards in full every month. But keeping it under 30% is good, under 10% is great. It is worth 30% of your score!

3. Third is your type of credit. You know your credit cards, loans (cars, installment, mortgage). It is worth 15% of your score!

4. Then, you have your new credit (inquiries). It is 10% of you score!

5. Finally, there is your length of credit. That is also 10% of your score!

Ok love, remember to always monitor your credit reports! Next time, we will talk about the important dates on your credit cards!