Credit

The average credit score as of August 2015 is 695 nationally.

A credit score is typically a three-digit number based on Information in your credit report that measures your risk levels to lenders. The higher the number the better the credit score.  If you pull your credit report at annualcreditreport.com you have access to all of the credit bureau companies. 

Four Basic Facts that can Affect your Credit Score

  1. Payment History: If you make late payments your credit will be affected. Helpful hint is to schedule time for bills to pay and pay more than the minimum payment.
  2. How and when you spend: Having multiple types of credit is good but not over using and know your limit of how much to spend. Helpful hint is to only spend 35% of your credit limit.
  3. Age your accounts: The longer you have an account open the better. Helpful hint is to budget your credit account make sure you make the payments on time.
  4. Know your credit score at all times: 18-29 years old are most vulnerable for identity theft. Helpful hint is you have the ability to check your credit report once a year for free with each of the 3 credit bureau companies.

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