HowtoCONQUERyour
CREDIT SCORE

A credit score is a
nasty, brutish beast.

But not only can it
be beat…

You can MAKE IT WORK
for you.

The key is to understand
how credit scores are calculated.

And that’s exactly what I’m
about to explain…

But before doing so, let’s
cover a few PRELIMINARY MATTERS

Your credit score is a
number between 300 and 850.

Its purpose is to gauge
how likely it is that you’ll repay your debts.

The higher the number, the
more likely it is that you’ll do so. 800-850750-799700-749650-699600-649550-599500-549300-499 1%2%5% 15% 31% 51% 71% 87% DELINQUENCY RATE CREDIT SCORE Data source: FinanceandCareer.com

So, what’s a GOOD SCORE?

This is how it breaks
down… Range Quality 720-850 Excellent 680-719 Good 620-679 Average 580-619 Poor 500-579 Bad 300-499 Miserable www.FreeScore.com

Simple enough, right?

So here’s the question:

So here’s the question: What
specific things can you do to increase your credit score?

And the answer is:

And the answer is: You
have to fight fire with fire.

You have to understand how
your score is calculated in order to determine the best way to improve it.

Take a look at this
chart: Payment History 35% Amount of Money Owed 30% Length of Credit History 15% New Lines of Credit 10% Types of Credit Used 10% Data source: FreeScore.com

Take a look at this
chart: It shows the FIVE VARIABLES that credit agencies use to generate your score. Payment History 35% Amount of Money Owed 30% Length of Credit History 15% New Lines of Credit 10% Types of Credit Used 10% Data source: FreeScore.com

Your payment history is the
most important, with a weighting of: Payment History 35% 35% Data source: FreeScore.com

This makes sense when you
consider this chart from earlier. 800-850750-799700-749650-699600-649550-599500-549300-499 1%2%5% 15% 31% 51% 71% 87% DELINQUENCY RATE CREDIT SCORE Data source: FinanceandCareer.com

Second is the amount of
money you currently owe: Amount of Money Owed 30% 30% Data source: FreeScore.com

This is why maxed out
credit cards are so bad.

The next most important is
the length of your credit history: Length of Credit History 15% 15% Data source: FreeScore.com

This is why older people
generally have better credit scores than younger people. 630 629 630 647 670 18-24 25-34 35-44 45-54 55+AGE AVERAGE CREDIT SCORE Data source: CreditKarma.com

In fourth place are any
new lines of credit or recent inquires: New Lines of Credit 10% 10% Data source: FreeScore.com

Finally, are the types of
credit you have experience with: Types of Credit Used 10% 10% Data source: FreeScore.com

The two main types include:

The two main types include:
1.Revolving accounts • Like credit cards…

The two main types include:
1.Revolving accounts • Like credit cards… 2.Installment lines of credit • Like mortgages and car loans…

So, to tie everything back
together into a pretty little package…

If you want to improve
your credit score…

FIRST Identify which of the
five variables are wanting in your case.

SECOND Prioritize their importance based
on the weighting.

THIRD And then attack them
one by one.

While the process takes discipline
and patience, it’ll be well worth it to conquer your credit score.

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