Quote:
Originally posted by psyko514
If you order a copy of your credit report directly from the credit bureau, it's free and doesn't affect your score.
When making a credit approval decision, the most important thing they look at is your total debt ratio.
To calculate that, they look at the limits of all your open credit cards and calculate what the minimum payment would be if you maxed them all out. They add to that whatever other payments you have to make (rent, mortgages, loans, car payments, etc) and then they determine if you'll have enough of your salary left to pay mortgage payments.
So even if your credit score is golden, you probably won't get it unless you can afford to payment.
Job tenure is looked at, but it's not super important. Preferably, one of your last two-three jobs should have been for at least a year.
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That is good advice. Your debt to income ratio is actually responable for 30% of your credit score. Also the number of inquiries you have is resposable for 10% so stop applying shit. Self checks of your credit do not contribute at all to your credit score. Soemthing around 20% is calculated by the number of revolving accounts you have and how recently you opened them. So if you get approved for a credit card, it will drop your score.
the other 40% is length of credit history and payment history which you can not really effect in the short term.