Delinquent payments and collections can have a major negative impact on your FICO® Scores. If you’re behind on payments, get current, and stay current.
Paying off a collection account will not remove it from your credit report. It will stay on your report for seven years.
It’s okay to use your credit cards, just be careful about using a large percentage of your available credit — high utilization rates can have a major impact on your FICO® Scores.
Your FICO® Scores consider the age of your accounts – the longer your credit history, the better.
Ultimately, having a mixture of credit is a good thing — as long as you make your payments regularly and on time. Someone with no credit cards tends to be a higher risk than someone who has managed credit cards responsibly.
NOT SURE YOUR CREDIT IS UP TO PAR?
Stephen Rudnicki Social Profiles
Jennifer Rudnicki Social Profiles