Credit History  (15% of the Credit Score's Weight)
  • The longer accounts have been opened, the lower the risk indication are about you.
  • Opening new accounts and closing your seasoned accounts will negatively impact your score.  Avoid "credit surfing."
  • Established credit history is relative to your past payment performance and how high or low your credit usage may be.
  • A short credit history does not automatically indicate that you are a high credit risk, as long as you are not a heavy user of credit and your payments have been made on time.  Keep your balances on cards Low!!  To get a score, you should have two accounts that have been opened for at least six months.

Types of Credit In Use  (10% of the Credit Score's Weight)

  • Finance company accounts will score lower than the accounts you secure through banks or department stores.  (Appears that you could not qualify for a better type of credit)
  • "90 days same as cash" and deferred payments generally are funded by finance companies.

Inquires on Your Report  (10% of the Credit Score's Weight)

  • Looking for new credit can indicate higher risk if several credit cards are applied for in a short period of time and your existing cards have been charged to their maximum limits.
  • Multiple inquiries, regardless of the number, for mortgages or autos, in a 14-day period of time, only count as a single inquiry in their impact on your score.
  • Any mortgage or auto inquiry made about your credit file within 30 days of the current lender's inquiry, will not impact your score due to buffers within the credit-scoring model.
  • Promotional or administrative inquiries shown on your credit report Do Not adversely impact your score.
  • Only the first seven inquiries made by different trade lines shown on your credit report will actually be factored into the impact on your score.  Only Inquires Authorized By You For the Purpose of Being Granted New Credit Lines Will Impact Your Score.
David L. Box
DRE#: 01301063


San Jose, CA 95128
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