Let’s talk CREDIT – The 6 factors that most affect your score!

Matt Rizzolo of Black Diamond Mortgage with the 6 items that affect your credit score:

1. Amount of inquiries in the past 2 years
   1. Important not to have too many
   2. Similar inquiries may be treated as one, such as if you are shopping for a mortgage
2. Number of new accounts in past 2 years
   1. Don’t open too many accounts at once
3. Total amount of available credit
   1. The more credit available, the better your score
   2. $25,000 in available credit is a good number to work towards
4. Oldest line of credit
   1. Don’t close your old accounts so that you can improve the age of your credit
5. On-time payments
   1. Make at least minimum payments
6. Amount of credit usage
   1. Don’t tap into all the credit you have available
   2. Keep your usage at 10-20%
   3. This is the most important credit factor, but is easily remedied