Your credit score is a three-digit number calculated from information in your credit reports. It influences loan approvals, interest rates, apartment applications, and sometimes employment decisions. Five categories of information drive the calculation, weighted differently in importance. The Five Factors (FICO Model) Payment history: 35% Amounts owed (utilization): 30% Length of credit history: 15% Credit […]

Negative marks on a credit report feel permanent but are not. Each type of negative item has a specific removal timeline, and meaningful score recovery is achievable well before those items fall off. What Is on Your Report and When It Leaves Late payments (30, 60, 90+ days): 7 years from the date of the […]