Amazing Findings on how to Boost your Credit Score

Stability, stability, stability

A recent article was published by CNN last week on how to boost your credit score. In this article a chart was posted, breaking down --by percentage-- the various factors that go into making up the credit score. The most interesting fact was that 30% of your credit score -- nearly a third -- was based on credit balance to availability.


This fact is astonishing in the sense that there is nothing about that particular equation that deserves such colossal weight on your score -- nothing. Conversely, the amount of time that you have had credit, creating a history of behavior and pattern, only accounts for 15% of the score --this is banana farm arithmetic.

Stability is the cornerstone of any financial portfolio. Stability and a willingness to pay can only be defined over time, so to give it just 15% weight towards a credit score, well that is just a financial crisis in waiting.


Story from Examiner.com


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