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Credit Scores

Building and maintaining immaculate credit.


There is absolutely no reason why you can't have an excellent credit score. Having great credit makes life much easier, from getting an apartment or a car, to even finding a job (they can run a check on you) everything becomes easier when you have good credit.

Factors that determine Credit Score

Credit Score Range

Your credit score will range between 300 - 850. Credit bureaus use 6 criteria when determining your score:

High impact:

  • On-time payments - this should always be 100%!

    If you miss a payment, you will be charged a late fee by the credit card company (sometimes up to $41), however federal law prohibits companies from reporting late payments to credit bureaus until it is at least 30 days past due.

  • Credit utilization - use less than 30% of available credit at any one time

    This is one reason why you should apply for new cards regularly. Thatt increases your available credit, and as a result lowers your utilization.

  • Derogatory marks - don't have any

Medium impact:

  • Age of credit - ideally 7+ years

    Do not close cards if possible, it will shorten your age of credit.

Low impact:

  • Total accounts - acquire both revolving and installment credit
  • Credit inquiries - don't apply for new credit cards too frequently

    Once every 6 months is a good rule of thumb.

Maintain great credit

To maintain a high credit score, do the following:

  • Pay off your full credit card balance every month.
  • Keep your utilization under 30%.
  • Only open a new credit card every 6 months.
  • Don't close old credit cards (unless you are paying a fee and getting nothing in return).
  • Monitor your credit score at least once a week (I use Credit Karma).
  • Review your credit reports at least once a year (I use

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