If you are living in the united states, you know that your credit score affects your life in many aspects. Your credit score affects your employments interviews, your ability in purchasing assets, and critical things such as home mortgages and auto loans. Good credit means having a good credit score. According to Experian, more than 80% of Americans suffer from financial problems because of low credit scores. Different credit score modeling systems calculate your credit score. FICO is a popular one that many creditors rely on it while checking your credit score. These modeling systems consider different factors in calculating your score. To boost or rebuild your credit, you can improve the elements that are included in score calculation. In this article, I am going to discuss these factors and briefly explain how to improve them:

What is affecting your credit?

Many items affect your credit score; here are the most important ones:

●      Payment history: the report of your payments that shows your punctuality in payments
●      CUR: a credit utilization ratio is a number that compares the amount of credit you had used to your balance.
●      Total debt: this shows how much debt you have in total, including credit cards, home mortgages, auto loans.
●      Account status: this gives information about your account
●      Hard inquiries: any time someone, other than you asks for your credit report that is considered as a hard inquiry.

How to improve these factors?

Overall for improving your credit score or to rebuild your credit, you need to check your credit reports regularly. Our specialists suggest checking your reports once a month. All three major bureaus offer free credit reports once a year. If you need more credit reports, you can pay a fee. Or you can contact Enrich Financial for free accurate reports.

When you check your reports, and you find out about your late payments you should pay your bills as soon as possible. You may have other alternatives if you cannot make your payment on time. A credit repair specialist can help you solve it.

Specialists suggest keeping a CUR under 30%. It is critical to be aware of the amount you are spending over your balance.

For your debts, gain you should start paying them as soon as possible. If you face debt settlement issues, you can get help from a specialist.

Your account status includes your account type, age, and a number of credit accounts you have. For example, maintaining more number of accounts, and having older accounts proves that you are good at managing your finance.

Anytime you ask for a loan, your creditor requests a credit report of yours, and this is considered a hard inquiry. You are supposed to have a limited number of hard inquiries over a while. More hard inquiries show that you have asked for more loans in a short period and you probably cannot handle them.


To rebuild your credit, you need to know about the factors that are influencing your credit. Moreover, it would be best if you worked in a way that you can improve these factors. For maintaining a healthy credit and for boosting your credit score, the first step is checking your credit report regularly. You can get free accurate credit reports by contacting Enrich Finacial. Furthermore, our specialists are ready to consult you for free to help you manage your credit.

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