When it comes time to buy a house or make any large purchase, you’re thinking long and hard about your credit score and how it will affect your buying capacity. For more information on how your score is calculated and what range you want to be in check out our resource on FICO scores, credit reports and more. So if home buying and securing a mortgage is on the horizon for you, then take a look at what affects your credit score – for better or worse.
What’s good for your credit score
- A long and varied history.
- A long standing installment loan like a car payment.
- Making credit card payments on time and never missing a payment.
- Low credit utilization – it’s even better than having none at all.
- Paying down installment loans like a car