Repair Your Credit Score with RMCN Credit Repair
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A Credit score shows your default behavior on a loan or in credit card that how will you be using in next 24 months. this information is used by credit provider when he becomes ready to approve your credit. Credit rating agencies (BEACON®, FICO® or EMPIRICA®) works behind your credit score and collect these information in your credit file.
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Transcript of Repair Your Credit Score with RMCN Credit Repair
A Credit score shows your default behavior on a loan or in credit card that how will you be using in next 24 months. this information is used by credit provider when he becomes ready to approve your credit. Credit rating agencies (BEACON®, FICO® or EMPIRICA®) works behind your credit score and collect these information in your credit file.
Payment history — what is your track record? 35 % of the score
Amounts owed — how much is too much? 30% of the score
Length of credit history — 15% of the score
New credit — are you taking on more debt? 10% of the score
Types of credit in use — is it a healthy mix? 10% of the score
As per RMCN, FICO (Fair Isaac Credit Organization) valuates score of your credit report according to following described five main categories information in your credit report, as well as it compares this information to the patterns in hundreds of thousands of previous credit reports.
These five categories are:
1. Payment history — what is your track record? 35 % of the scoreRisk predictors here look at:· Severity – how bad are the delinquencies?· Recency – how recent are they?· Frequency – how many times did it occur?
Payment history — what is your track record? 35 % of the score
Amounts owed — how much is too much? 30% of the score
Length of credit history — 15% of the score
New credit — are you taking on more debt? 10% of the score
Types of credit in use — is it a healthy mix? 10% of the score
These five categories are:
2. Amounts owed — how much is too much? 30% of the scoreRisk predictors here look at:· Large outstanding balances· The ratio of balances to credit limits
Payment history — what is your track record? 35 % of the score
Amounts owed — how much is too much? 30% of the score
Length of credit history — 15% of the score
New credit — are you taking on more debt? 10% of the score
Types of credit in use — is it a healthy mix? 10% of the score
These five categories are:
3. Length of credit history — how established is yours? 15% of the scoreRisk predictors here look at:· Age of the trade lines – (the age of the oldest account, the average age of accounts, or both).
Payment history — what is your track record? 35 % of the score
Amounts owed — how much is too much? 30% of the score
Length of credit history — 15% of the score
New credit — are you taking on more debt? 10% of the score
Types of credit in use — is it a healthy mix? 10% of the score
These five categories are:
4. New credit — are you taking on more debt? 10% of the scoreRisk predictors here look at:· Number of inquiries and new account openings
Payment history — what is your track record? 35 % of the score
Amounts owed — how much is too much? 30% of the score
Length of credit history — 15% of the score
New credit — are you taking on more debt? 10% of the score
Types of credit in use — is it a healthy mix? 10% of the score
These five categories are:
5. Types of credit in use — is it a healthy mix? 10% of the score Risk predictors here look at:· Number of trade lines reported for each type: bankcards, retail, department store cards, installment loans, etc.
Payment history — what is your track record? 35 % of the score
Amounts owed — how much is too much? 30% of the score
Length of credit history — 15% of the score
New credit — are you taking on more debt? 10% of the score
Types of credit in use — is it a healthy mix? 10% of the score
These five categories are:
RMCN Credit ServicesADDRESS:1611 Wilmeth Road, Suite BMcKinney TX 75069Toll Free (888) 4-MY-REPAIRSe Habla EspañolPHONE NUMBERS:Office: (972) 529-0900Fax: (972) 562-0225EMAIL:[email protected]
