What is the easiest and quickest way to build a perfect credit score?
There is no quick way to build a PERFECT (850 FICO) credit score because 15% of the FICO is based on length of credit history. 35% of the FICO score is determined by payment history. To maximize your score in this area, pay on time EVERY time. A late payment stays on your credit report for up to 7 years! 30% = utilization (balance-to-credit-limit ratio). To maximize your score in this area, try to charge under 10% of your credit limit on each card and in total. Maxing out your cards hurts you, using 50% of your available credit hurts you less, but still hurts. You should aim for under 10%. 15% = length of credit history. Don’t close old cards. 10% = credit mix. Try to have revolving (credit cards) and installment loans (auto loans, mortgages, student loans) on your credit history. This will generally mean taking on both secured (generally installment loans) and unsecured (mostly credit cards) debts. 10% = search for new credit. When you apply for new credit (credit cards, auto loans, m
