Understand Your Credit Image

Does your credit score make the grade?



Payment history – 35% of your score

This is the history of your payments weighted to the most recent activity. You lose more points for recent negative payment history than for older negative history. Over time, older late payments have less of an impact as creditors pay more attention to what's happening with your more recent payment history.


Utilization rate – 30% of your score



Length of history – 15% of your score


To maximize your credit score, don't close that old credit card account—even if you've achieved a zero balance—unless you're being charged an annual fee. Your oldest accounts make the biggest impact on your credit score, so closing them could bring your score down. You'll need to use the card at least every six months to keep it active and to ensure it's adding valuable points to your credit score. Just don't rack up any debt you can't pay off the following month.

Type of credit – 10% of your score

There are varying types of credit, including installment loans and revolving credit. It's important to have both to achieve a high credit score. Too few accounts, or none that are currently active, will negatively affect your credit score. A good mix of credit types shows that you have the ability and willingness to manage your borrowing. Keep in mind that ATM and debit cards don't really impact your credit score.

To maximize your credit score, have at least one major installment loan (mortgage), one additional installment loan (auto), and three revolving accounts (credit cards). If you've paid off your mortgage, open a home equity line of credit (HELOC) and use it for occasional expenses that you'll pay off the following month.

Inquiries – 10% of your score





Universal Lending Corporation was founded over 30 years ago on the principle that our customers deserve individual and specialized attention throughout the mortgage process. This is why we have one of the highest rates of repeat borrowers in the business. Our mortgage professionals embrace our passion for customer care, and educate and empower each potential home buyer throughout the entire process, so they make informed, considerate decisions that ensure their home mortgages fit their budgets ...

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Contact Us


- NMLS: 2996
6775 E. Evans Ave.
Denver, Colorado 80224
Phone: (800) 758-4063
Email: info@ulc.com


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