Tag: improve credit score

You might find yourself asking why you were not approved for a loan or credit card. That decision was made based on many factors. Some of those reason might be because there is a history of not paying on time, you do not have any credit yet, or you are adding too much debt into your accounts.  If you are looking to improve your credit score, I will be listing some tips as well as what goes into your score. First, we will be breaking down the categories in which they use to determine your score. Credit Score History Credit Utilization Ratio This ratio once again is made up of how much you owe and how much available credit you have. You want to keep it low because you do not want to give the image that you need all the money, they are handing you. Lenders basically want to see your money habits as well as your organization and responsibility with their money. This is because they want to ensure that their money is going to return, which is why they usually grant it to those with higher scores. A higher score is usually an indication of low risk