Hello Everyone,
I received a flyer from a financial advisor about how credit scores work. This is based on the FICO score, which is a unique number between 300 and 900, used by Equifax and TransUnion.
From your score...
35% payment history (do you pay your bills on time)
30% amount owed (how close are you to your credit limit)
15% length of credit history (how long have your accounts been active)
10% new credit (how many accounts have been opened recently)
10% types of credit used (mortgage, revolving - credit card, auto loan)
You can request your credit score report for free by mail if you go to www.transunion.ca or www.equifax.com/home/en_ca.
It's been a couple years since I got my last one so it's about time for a new one. Financial advisors usually recommend checking it every year or so.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment