We’ve talked at length about what factors have an impact on your credit score, and how you can prevent these from damaging your credit score. Here we would like to provide a handy, comprehensive guide of the components on your file that may adversely Credit Score affect your credit score, and suggestions on how to deal with these listings should they occur. There are various, distinctive scoring frameworks utilized by the credit agencies to determine your credit score. These credit scores consider the data introduced in your credit file, which reflects your ability to repay financial obligations. Credit providers will use the credit scoring system as a tool to determine “high-risk” consumers that they might not want to take on. The following is a list of factors that may affect your credit score. • Type of credit provider. There may be different levels of risk when approaching different lenders. A non-traditional lender, such as a pay day lender, may have a different level of risk than a bank or credit union. • The size of credit requested. Both the type and size of the loan or credit limit you’re requesting can affect your VedaScore. Loans and credit card enquires maybe adversely affecting your Credit Score. • The number of credit enquiries. Every time you apply for anything to do with credit, the credit provider obtains a copy of your file and the application is noted. If you've been shopping around for credit and applied at a number of places withing in the time frame of a 3 – 7 month period, it can flag you as a higher risk. The pattern of credit enquiries over time can also drive down your credit score. • Directorship information. If you’re a director or proprietor, it may impact your VedaScore so it’s important to check both the individual and commercial sections of your credit file. • Age of credit file. The date your credit file was created. A new file may indicate a different level of risk compared to an older file. • Personal details. Your VedaScore will consider your age, length of employment, how many times you’ve been employed in the past, how many previous addresses you’ve had and the kind of suburb or city that you live in. • Default information. Any personal or business credit such as overdue debts, serious credit infringements or clear outs could have a seriously negatively affect your VedaScore. • Court writs. Default judgments or court writs may convey you as a high risk client and can negatively impact your VedaScore. If you find more than one of the above things in your Credit File you can A) Try cleaning up your Credit File on your own or, B) Contact us and see what deals we offer. If you’d like to know more about our subscriptions, you can go here to check out our pricing page. You can also check out our How It Works page if you’re not sure yet and you’d like to know more about us. Alternatively, you can chat to one our team members through the Live Chat system, or, email us at admin@creditreboot.com.au