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5 Factors That Decide Your Credit Score

  • Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. These factors will affect your score.
  • Your payment history. Whether you paid credit card obligations on time.
  • How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
  • The length of your credit history. In general, the longer the better.
  • How much new credit you have. New credit, either installment payments or new credit cards, are considered more risky, even if you pay promptly.
  • The types of credit you use. Generally, it’s desirable to have more than one type of credit—installment loans, credit cards, and a mortgage, for example.

For more on evaluating and understanding your credit score, go to

Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2005. All rights reserved.


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