Credit scores are important, and if you have a low credit score, everyday life can be challenging. You may not be approved for a credit card and a car loan…and you might even have to prepay your utility bill rather than being billed monthly.
So, if you’re trying to improve your credit score, then you need to know what factors can impact your score, and these include:
- Payment History: Do you consistently pay your debts on time?
- Credit Utilization: How much credit are you using in relation to your credit limit?
- Credit Age: How long have you maintained your credit accounts?
- Credit Mix: What types of credit accounts do you have?
- Credit Inquiries: How often and what type of credit are you applying for?
If you’re one of the millions of Americans who are credit invisible and credit unscorable, or just want to improve your existing credit score, then solutions like RentReporters can help you by reporting on time rental payments to TransUnion.
For more information on RentReporters, visit here.