Decklynn & Joel Theisen - REMAX Advantage PLus
Decklynn & Joel Theisen
612-260-5497612-260-5497

5 Factors That Decide Your Credit Score

5 Factors That Decide Your Credit Score

Credit scores range between 300 and 850, with scores above 620 considered desirable for obtaining a mortgage. The following factors affect your score:

  1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history.
  2. How much you owe. If you owe a great deal of money on numerous accounts, it can indicate that you are overextended. However, it’s a good thing if you have a good proportion of balances to total credit limits.
  3. The length of your credit history. In general, the longer you have had accounts opened, the better. The average consumer’s oldest obligation is 14 years old, indicating that he or she has been managing credit for some time, according to Fair Isaac Corp., and only one in 20 consumers have credit histories shorter than 2 years.
  4. How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay them promptly.
  5. The types of credit you use. Generally, it’s desirable to have more than one type of credit — installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, visit www.myfico.com.

Contact Us

About Us

Picture of Decklynn & Joel Theisen

Decklynn & Joel Theisen

Real Estate

decklynnt@hotmail.com

17850 Kenwood Trail, Lakeville, MN 55044

612 840 5847612 840 5847 office

Remax Advantage Plus

17850 Kenwood Trail, Lakeville, MN 55044

Reviews

5user10277461

Decklyn and Joel's experience and knowledge of the area helped us prepare for and finalize the sale of our home. They are very professional and understanding of the emotional part of the process. Decklynn and Joel are the best!

5user792633

I sold my house in a difficult transaction because of a few things - I was out of the country and had to give my son power-of-attorney, the buyers were asking for some extra changes and I had to get an offer in on a townhome I ended up purchasing. Deck &... (more)

5zuser20140909063208153

We had several offers on the house we really wanted and their advice was instrumental in getting our offer accepted. The whole process was clear and easy and we couldn't be happier in our new home, it is just the right place for our family.

Review Decklynn & Joel Theisen on Zillow.com