To get the best interest rates on mortgages, most lenders will want you to have a FICO score above 720. If you want to boost your score today, here are 5 ways to boost your FICO Credit Score.
- Verify that accounts are current.
- Dispute inaccuracies.
- Ask creditors to help you out.
- Settle on collections.
- Improve your debt relation ratio.
What’s Included In Your FICO Score
The FICO credit score takes into account a combination of all of the information found in your credit report.
Your FICO score is made up of the following:
- Payment History : 35% of your overall FICO
- Total Amounts Owed : 30%of your overall FICO
- Length of Credit History : 15% of your overall FICO
- New Credit : 10% of your overall FICO
- Type of Credit in Use : 10% of your overall FICO
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