The following factors may be impacting your credit score.
Amount owed on accounts is too high
Level of delinquency on accounts
Proportion of loan balances to loan amounts is too high
Lack of recent installment loan information
Too many accounts with balances
Too many consumer finance company accounts
Account payment history is too new to rate
Too many inquiries last 12 months
Too many accounts recently opened
Proportion of balances to credit limits is too high on bank or other revolving accounts
Length of time revolving accounts have been established
Time since delinquency is too recent or unknown
Lack of recent revolving account information
Number of accounts with delinquency
Date of last inquiry too recent
Length of time since derogatory public record or collection is too short
Amount past due on accounts
Too few accounts currently paid as agreed
Number of established accounts
Time since most recent account opening is too short
Serious delinquency, and public record or collection filed
A good credit score is crucial for financial success. Credit scores can vary from 300 to 850. It is important to continue building your score in order to receive the most favorable interest rates. You should know what your credit score is, what factors influence it and how you can improve it.
Prospera Credit Union is not a certified credit counselor.
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