Equifax Score Background Summary Explanation Positive Factors Negative Factors Account

Equifax Score Background Summary Explanation Positive Factors Negative Factors Account Details The Following Analysis is Based on Your Equifax Credit File. Credit Score Back To Top Alvin Zeno, on a scale of 350 to 850 points, you have a score of: 604

Credit Category Your credit category is: National Ranking Your credit score is higher than 15% of the U.S. population. Background Back To Top Your credit scores are based on the information in your credit bureau reports. The higher your credit scores, the better. With a higher credit score, you are more likely to be eligible for the best credit card and loan offers, including terms and conditions, such as interest rates, fees, and benefits. Keep in mind that lenders review other factors (such as income and monthly payments) in addition to credit scores when evaluating credit applications. Help

Summary Back To Top

Currently, your low credit score will make it difficult for you to obtain new credit accounts. If you were to be approved for one, you should expect lower credit limits and smaller loan amounts. Be prepared to pay high fees and interest rates and/or make a large deposit or down payment. You may not qualify for many credit card offers. Help

Explanation Back To Top There are both positive and negative factors that influence your credit score. The most important factors of each kind are listed below, in their order of importance. These factors vary in how strongly they impact your credit score. For example, if you have a very high credit score, the negative factors in your analysis are likely to have a small impact. The same is true for positive factors if you have a very low credit score. Help

Positive Factors Back To Top

Here are the top factors that raise your score: You paid 100% of your accounts on time (as of the last time each account was reported). Note that derogatory accounts that have been paid off do not count as being paid on time. This raises your score. Any history of late payments (including missed payments and derogatory payment statuses) is a negative factor. No reported history of payments on any account is also negative because lenders cannot tell whether you paid on time or were late. Some cases of late payments are worse than others. If you have not been late with any payments recently, lenders may think you are responsible and do not (or will no longer) miss payments. Lenders realize that many people occasionally pay late. Therefore, being late with a single payment is typically not as harmful as being late with two or more consecutive payments. Similarly, being late on many accounts is typically worse than being late on just one. Also, lenders may view late payments as a more serious problem if you have collection accounts or negative public records such as

bankruptcies or court judgments. These types of credit records indicate a pattern of credit problems. Finally, it may not be as harmful to be late with your payments if the past due amounts are small, because lenders stand to lose less money if they remain unpaid.

You have no collection accounts or negative public records listed in your credit report. This raises your score. Having a collection account or a negative public record (such as a bankruptcy or a court judgment against you) on your report is a negative factor. Collection accounts demonstrate a pattern of not paying your bills. Negative public records are legal obligations that have priority over your debts, so they may impact your ability to repay your debts. Public records (other than bankruptcy) often result from unpaid bills for which creditors file lawsuits in order to be paid. As collection accounts or negative public records get older, they are less harmful to your credit scores. If you have not had any new collection accounts or negative public records reported recently, lenders may consider that you have regained control of your financial situation. In any case, these records will significantly affect your ability to get new credit accounts. You may be required to make a deposit and/or pay higher fees and interest rates.

You have at least one open bankcard. This raises your score. Having accounts listed in your credit reports is a positive factor because the payment history of these accounts shows lenders how well you pay your bills. Therefore, having too few accounts may be considered negative. However, having too many accounts or adding new accounts too quickly may also be considered negative because lenders worry that you are spending (or preparing to spend) beyond your means, even if you have never been late with any payments. Note that closing accounts will not change this. Also, if you do not currently have credit, getting your first few credit cards may be difficult and may involve high fees, high interest rates, and low credit limits. Note that accounts from personal finance companies (which specialize in lending to people with credit problems) may be considered negative.

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Negative Factors Back To Top

Here are the top factors that lower your score: In the past, you were late with your payments or were derogatory on 6 account(s). This only includes accounts for which the payment history was reported. This lowers your score. Any history of late payments (including missed payments and derogatory payment statuses) is a negative factor. No reported history of payments on any account is also negative because lenders cannot tell whether you paid on time or were late. Some cases of late payments are worse than others. If you have not been late with any payments recently, lenders may think you are responsible and do not (or will no longer) miss payments. Lenders realize that many people occasionally pay late. Therefore, being late with a single payment is typically not as harmful as being late with two or more consecutive payments. Similarly, being late on many accounts is typically worse than being late on just one. Also, lenders may view late payments as a more serious problem if you have collection accounts or negative public records such as bankruptcies or court judgments. These types of credit records indicate a pattern of credit problems. Finally, it may not be as harmful to be late with your payments if the past due amounts are small, because lenders stand to lose less money if they remain unpaid.

You have a total of $521 available credit on your open revolving account(s). This only includes accounts for which the credit limit is reported. This lowers your score. Having very little available credit is a negative factor, because lenders worry that you are living beyond your means and may not be able to repay them. Having a lot of available credit can be considered either positive or negative, depending on how well you have paid your bills in the past. On one hand, it indicates that lenders have trusted you with large credit limits and that you do not need to use all of the credit available to you. On the other hand, it increases your risk of getting too much into debt.

On average, you are using 64% of the credit limit on your revolving accounts. This only includes accounts for which the credit limit or highest balance is reported. This is because if the credit limit is not reported, your highest balance is used instead.

This lowers your score. High usage (such as balances above 50% of the credit limit) is usually considered negative because lenders worry that you may be using more credit than you can reasonably afford to repay. In fact, as little as 15% usage may lower your score if you have no serious negatives (such as late payments) in your report. Being "maxed out" or overlimit on a credit card (when your balance is close to or above the credit limit) is particularly negative. The more accounts in this situation, the more it affects your scores. On the other hand, low usage is usually considered positive because it provides lenders with information on how you use credit. It also demonstrates that you do not need to use all of the credit available to you. However, not using your credit accounts at all may be considered a negative factor, because it does not provide lenders with information about how you typically use credit and repay your debts.

You applied for credit 1 time(s) in the past 12 months, as recorded in this credit report. Mortgage and auto loan applications within the last 30 days are not counted. Prior to this 30-day window, all mortgage applications within a short period (14 or 45 days, depending on the bureau) count as a single application. This is also true of applications for auto loans. This lowers your score. Applying for multiple credit accounts within a short period of time can lower your credit scores. When you apply for any type of credit (such as an auto loan, credit card, department store card, or mortgage), the lender considering your credit application checks your credit history. This is recorded in your credit reports as a "hard inquiry." Although inquiries are an unavoidable result of applying for credit, lenders dislike seeing too many inquiries within a short period of time (such as 12 months) because they cannot tell whether you are "shopping" for the best offer or if you are desperately trying to obtain credit because of financial trouble.

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Account Details Back To Top

The credit records used to calculate this factor are listed here. In the past, you were late with your payments or were derogatory on 6 account(s). (This only includes accounts for which the payment history was reported.)

Account Number Lending Institution Worst Payment Status Ever Comment Date Last Reported 542807120040**** CHASE BANK USA, NA 120 days late Late by 4 payments in the past. Occurred in 02/2005. 06/2008 455950020065**** CHASE BANK USA, NA 90 days late Late by 3 payments in the past. Occurred in 03/2005. 04/2008 517805224372**** CAPITAL ONE BANK USA 60 days late Late by 2 payments in the past. Occurred in 12/2004. 09/2009 10249210905**** NISSAN ACCEPTANCE CO 60 days late Late by 2 payments in the past. Occurred in 12/2004. 06/2008 700058**** CHRYSLER FINANCIAL 30 days late Late by 1 payment in the past. Occurred in 01/2007. 02/2007 50499480**** SEARS/CBSD 30 days late Late by 1 payment in the past. Occurred in 04/2007. 09/2009 Help

The credit records used to calculate this factor are listed here. You have a total of $521 available credit on your open revolving account(s). (This only includes accounts for which the credit limit is reported.) Account Number Lending Institution Available Credit Comment Date Last Reported 11500**** CBUSASEARS $500 Credit limit is $500. Balance is $0. 07/2004 50499480**** SEARS/CBSD $21 Credit limit is $470. Balance is $449. 09/2009 517805224372**** CAPITAL ONE BANK USA $0 Credit limit is $5,500. Balance is $5,502. 09/2009 515**** ? Credit limit not reported. 07/2009 Help

The credit records used to calculate this factor are listed here. On average, you are using 64% of the credit limit on your revolving accounts. (This only includes accounts for which the credit limit or highest balance is reported. This is because if the credit limit is not reported, your highest balance is used instead.) Account Number Lending Institution % Used Comment Date Last Reported 515**** 101% Credit limit not reported (highest balance used). Highest balance is reported as $2,600. Balance is $2,644. 07/2009 517805224372**** CAPITAL ONE BANK USA 100% Account overlimit. Credit limit is $5,500. Balance is $5,502. 09/2009 50499480**** SEARS/CBSD 95% Credit limit is $470. Balance is $449. 09/2009 11500**** CBUSASEARS 0% Credit limit is $500. Balance is $0. 07/2004 455950020065**** CHASE BANK USA, NA 0% Credit limit not reported (highest balance used). Highest balance is reported as $1,331. Balance is $0. 04/2008 542807120040**** CHASE BANK USA, NA 0% Credit limit not reported (highest balance used). Highest balance is reported as $2,500. Balance is $0. 06/2008 517800705356**** FIRST PREMIER 0% Credit limit not reported (highest balance used). Highest balance is reported as $350. Balance is $0. 05/2004 Help

The credit records used to calculate this factor are listed here. You applied for credit 1 time(s) in the past 12 months, as recorded in this credit report. (Mortgage and auto loan applications within the last 30 days are not counted. Prior to this 30-day window, all mortgage applications within a short period (14 or 45 days, depending on the bureau) count as a single application. This is also true of applications for auto loans.) Account Number Lending Institution Inquiry Date Comment Date Last Reported CBDELMARVA 04/14/2009 Help

The credit records used to calculate this factor are listed here. You have at least one open bankcard. Account Number Lending Institution Date Opened Comment Date Last Reported 517805224372**** CAPITAL ONE BANK USA 08/2002 09/2009 Help

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