Who Should Get Credit Repair Help?
The vast majority of people need to increase their credit scores. The formula used to figure out your credit score may be foreign, and therefore effect they way you may view your credit. First the most important part is obviously paying your bills on time. This segment specifically counts for 35% of your credit scores. Late payments on energy bills, phone bills, or water bills can affect your credit as well because there are directly linked to your account(s).
The next largest segment is the amount that you owe on your credit cards. This means the actual debt that you are in with your creditors. Obviously the larger your debt is, the riskier you look to loaners. This makes up 30% of your score.
The last 35% of your score is split between three smaller factors—the length of your credit history, new credit that you may have obtained, and the type of credit that you are using. Each part makes up 15%, 10% and 10%, respectively.
As you can see, your credit score is broken up in a way that can make it incredibly easy to “lose points”, therefore virtually everyone can make their credit score better. Even if your score is on the more favorable side of the spectrum, it is always beneficial to make your score higher. A better score means lower cost and more opportunities for you.