Is 820 A Good Credit Score – The ONLY Way to Get a PERFECT Credit Score for $0 in 2020 #PerfectCreditScore #IncreasingCreditScore
Is 820 A Good Credit Score – How to Choose
This is EXACTLY how you can increase your credit score fast, and get a perfect 800+ score as easily as possible — for absolutely free. Hope you enjoy the video!
Here’s what makes up 100% of your score:
FIRST: ON TIME PAYMENT HISTORY – 35%
This one is VERY straight forward…DON’T MISS A CREDIT CARD PAYMENT AND DON’T PAY IT OFF LATE. EVER. In order to get a perfect credit score, you’ll need to pretty much NEVER miss a payment, ever – otherwise that could completely ruin everything.
SECOND: AMOUNTS OWED – 30%
In order to get yourself a PERFECT score, the credit bureaus want to see that you aren’t maxing out all of your credit cards, and that you’re keeping a relatively LOW balance compared to the overall credit you have available to you. One of the techniques I use to help with this is to NOT spend more than 10% of your credit limit!
THIRD: LENGTH OF CREDIT HISTORY – 15%
This just means – the longer you’ve had credit for, and the sooner you start – the BETTER. This is one of the reasons I recommend people begin building their credit score as early as they possibly can, even if it means going and getting a credit card THE DAY THEY TURN 18…this will help build the foundation of your entire credit history very early on.
FOURTH: NEW CREDIT – 10%
When you acquire new debt you are seen as a RISKY lender so you will see a temporary knock on your credit score. This will recover as soon as you start to make ON TIME Payments.
FIFTH: TYPES OF CREDIT – 10%
Types of Credit is separated into 2 categories.
Credit cards, Gas Cards, and HELOC’s fall into this category.
Mortgages, Auto Loans, and Student Loans fall into this category.
I HIGHLY recommend you check your credit score every few weeks using a free service like CreditKarma. It is a FANTASTIC resources that update your score every week – and even though they’re not going to be 100% accurate in terms of calculating what your score will be, they’re going to be fairly close and will give you a comprehensive overview of your entire report.