|-List Your Site Here! -- Targeted Advertising For Just Pennies A Day!||-Tell A Friend||- Bookmark This Page|
|LegalCornerTM - Credit and Loans F.A.Q.'s|
Q.What lowers a credit score?
First, letís set the record straight with what wonít lower your credit score:
Now lets identify the five major factors that make up your credit score:
Because your payment history is the single largest component of your credit score, failing to pay your bills on time, and/or allowing accounts to become delinquent, will do a lot of damage. Points are also added and subtracted based on your amount of available credit. Using a large percentage of your available credit, even if paid in full at the end of every month, can lower your credit score. And as most of you know, filing for bankruptcy, going into foreclosure, and an unpaid judgment call all do serious damage as well.