credit repair company in Fort lauderdale FL

We all know a “good” credit score is better than a “bad” one. However, most people really don’t understand how their credit score is calculated or what a good credit score is.


Your credit score is basically a report card about your credit history. Most commonly, Fair Isaac Corporation (FICO) provides the scores and they range from 300 to 850. The higher your credit score, the better your rating is and the more likely you are to be approved for loans or credit.  Creditors have different standards for credit, however, a score of 700 or above is usually considered to be a good score.


So, what factors make up your credit score and how are they weighted?


Essentially, there are 5 factors which influence your overall credit score, with two specific areas – payment history and credit utilization – impacting your score the most.


Here is a break-down of how your credit score is calculated, but keep in mind these percentages are approximate:


% of Credit Score Factor Ask Yourself How Does This Affect My Credit Score?
35 Payment History Do I pay my bills on time? If you are over 30 days late making a payment, you could lose approximately 100 points on your credit score. Issues which can seriously affect your payment history include bankruptcy, judgments, collection accounts, uncollected debts, foreclosures, wage garnishments, and tax liens.
30 Credit Utilization How much do I oweon loans, credit cards, or other types of accounts? If your cards are maxed out, or you have a high debt-to-credit ratio, you could be overextending yourself. Try to keep your debt-to-credit ratio under 30%. For example, if you have a credit limit of $1000 on your credit card, try to keep your balance under $300.
15 Length of Credit History How long have I had my accounts open and do I really need and new ones? Your credit history score considers the ages of your oldest accounts and your newest accounts, as well as the average age of all your accounts. The older your accounts are, the better it is for your credit score, even if you aren’t using them. But don’t worry if you are new to obtaining credit – you can still have a good credit score even if your accounts aren’t particularly old.
10 Types of Credit Do I have a good mix of credit types? Lenders are interested in seeing if you have a variety of loans (such as credit cards, a mortgage, and a car loan) and if you can successfully manage them.
10 New Credit How many new credit accounts have I opened recently or do I plan on opening? Asking for too much credit in a short period of time can make you appear to be financially risky for many lenders.



Once you know how your credit score is calculated, it is easier to figure out how you can improve or rebuild your credit. As you can see, paying your bills on time, every month and not maxing out your credit is the best way to ensure a great credit score.


Your path to financial freedom can start right today with Great American Credit Repair Company.  Contact us at 1-800-603-1943 to receive expert advice on how you can maximize your credit score and achieve your financial dreams.


About Great American Credit Repair Company


Great American Credit Repair Company…….because you deserve a fresh start! Call us today at 1-800-603-1943 for your FREE consultation. Our financial experts will work diligently on your behalf to raise your credit score and repair bad credit. We are attorney-approved and offer the industry’s only Money Back Triple Results Warranty to protect your investment.


How does Great American Credit Repair work to restore your credit? Approximately 79% of all credit reports contain errors and aren’t verifiable. At Great American Credit Repair Company, we have proficient understanding of the rules Credit Bureaus are bound to and how to resolve common but substantial threats to your credit score. We know most people don’t earn the credit score they deserve and will investigate every negative aspect of your credit report every single month to make sure you get the highest credit score possible.

REPAIR YOUR CREDIT TODAY by calling us Toll Free: 1 (800) 603-1943 or visiting us at