The road map to what makes up a perfect 850 credit score

Ever wondered how you credit score is always between 300 to 850 and not below or above this range? Have you ever thought if you can actually achieve the perfect score? We will help you in answering all of these questions by giving a road map of the FICO scoring model which is used across the globe in providing credit score. This will help in better understanding your score and give you an idea of how to improve it when you see it decreasing.
Let’s Begin!
The credit scores are broken up into 5 categories. This basically means that you have exactly 550 points to take care of. Let’s take a closer look into these five categories and determine how to maximize your credit score. The five categories are following:

1. 35% of your score is your payment history which is 192.5 points.
2. 30% of your score is utilization which is 165 points.
3. 15% of your score is the average age of credit which is 82.5 points.
4. 10% of your score is inquires or new credit that you’re applying for which is 55 points.
5. 10% of your score is the types of credit which is 55 points.

With the help of this road map, you can now easily understand where exactly are you losing or gaining your score from. We have had clients assuming that the loss of points in their credit report was our fault but it was due to them maxing out their credit cards. So, the secret here, not really a secret, is to me sure that you make all your payments on time. Furthermore, it is important that you do not apply for new credit unless you really need to. And make sure that you do not max out on your credit card and this has a bad impact on your credit score.
If you are careful with your credit card expenditure and follow the simple tips that we have provided then you can surely achieve the perfect score of 850 thus securing your desired purchasing power and financial stability.
 

Should you have any questions regarding credit repair please feel free to contact us at 1-833-353-9273 or info@creditflex.org. Our friendly Credit Specialist are standing by and waiting to address any of your questions or concerns. Don't hesitate call today!!!