Credit

Breaking Down Credit Scores

Three digits – a proprietary formula that determines our financial future. Our credit scores determine if we can receive a credit card, purchase a car, own a home, and even has implications for your working career!

Although our credit scores have an affect on our well-being, you’re in control!

Here is a how you credit score is evaluated, based on these factors:

As you can see, your payment history and amount owned on credit or debit accounts makes up for 65% of your score.

The other three components do not have as high of an impact in comparison to payment history and amounts owed.


Payment History focuses on making your payments on time! Whether it’s your credit card, mortgage, or student loans – make sure you pay on time!

Amounts Owed  is your current debt outstanding in comparison to the total amount of your credit limit.

Focus on paying your bills on time and lowering your credit utilization!

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