Everyone knows a good credit score is vital, but how do you get it? The first step is to understand how it’s calculated. Five factors impact your credit score, each one in different ways.
First is your payment history and reliability in paying back past debt—both good and bad—over the past 7-10 years.
Second is your account balances showing what you owe in proportion to your overall credit limits.
Third is the length of time you’ve been using credit. Typically, the longer your credit history, the better your score will be.
Fourth is your credit mix, which demonstrates your flexibility to use different types of credit.
Lastly, the number of times you apply for new credit impacts your credit score. Once you understand how your credit score is calculated, the next step to fixing your credit is getting the right help.
At Lexington Law, we address each factor of your score health as we repair and rebuild credit scores.
First we challenge unverified, inaccurate, or unfair items on your report by sending creditor intervention letters and working directly with credit bureaus.
Second, we provide resources and advice regarding how to resolve your debts.
Third, Our legal experts coach you on credit score enhancing steps you can take to keep your credit healthy.
Fourth, our monthly credit snapshot shows your credit standing and any factors or changes affecting it.
Last, we provide personalized advice about how new credit inquires effect your credit.
Lexington Law is the trusted leader in credit repair. We’ve helped hundreds of thousands of clients improve their credit by working to remove millions of negative items from their credit reports.
Lexington Law, We’ll help your bad credit history become—history.