Understanding Your Credit Score

A credit score is a 3 digit number based upon a number of factors from your financial activities It is used to determine your creditworthiness for a mortgage, auto loan or credit card

A company called FICO creates what is called a FICO Score It is based 35% on payment history, 30% on amount owed, 15% on length of credit history 10% on new credit and 10% on types of credit used The importance of any factor is measured against the others FICO scores range from 300-850, with 850 being the highest and best score possible90 of the top 100 U

S financial institutions use the FICO score for credit decisions Know your Credit Score and protect it by making wise financial decisions We can help! Give us a call today