Credit score is affected by the following:
– Missing payments or not paying on time, even if you make double payment the following month, the score will affect your credit history.
“While adverse legal information is cleared as soon as the account is settled, the negative repayment history, however, remains for a couple years,”
– Too much debt
– how much you owe and how much of your available credit you’re using
– it is advisable to try to keep the use of your current credit facilities to less than 35% of your limit.
– Negative information like a court judgment taken against a consumer’s name (commonly known as blacklisting).
– Length of credit history.
– Account application and enquiry activity
– within a short period of time, how many account applications the consumer submitted and how many new accounts you opened.