My Credit Score is 666 ?!!!
What does this mean? What does the devil have in store for me and my finances?
The Answer : This is how your score breaks down:
1. Payment history- 35%
2. Total debt owed vs. available credit- 30%
3. Length of time establishing credit- 15%
4. Types of credit established- 10%
5. Inquiries and New accounts- 10%If you're superstitious, and you feel that the devil has it out for you, you can quickly raise your score by paying down the balances on your credit cards.
A good rule of thumb would be to keep the balances at 25-30% of the limit. For example if you had a $500 credit limit, the balance should be no higher than $125. I wouldn't worry too much about the score, like some of the people have already told you, it's better than theirs and your is around the national average, so cheer up!
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