Here's what makes credit:
Credit Age - The average age of all open accounts
Credit Usage - It is your current balance divided by your credit limit.
If you owe $100 on your credit card and your balance is $1000. This means you have a credit usage of 10%.
Payment History - It calculates how often you pay on time.
Derogatory Remarks - These are any dings on your record. Like someone sending you to collections, or a foreclosure.
Total Accounts - The total number of accounts you have either open or closed.
Hard Inquiries - These are the number of applications for credit. These can remain on your credit up to two years.
Now, you know what makes up credit. Ready to learn how to improve it? Click Here