How much does change-of-address affect credit rating?
First, from one of the Federal Government’s consumer education publications: As a rule, credit scores analyze the credit-related information on your credit report. How they do this varies. Since FICO scores are frequently used, here is how these scores assess what is on your credit report. 1. Your payment history – about 35% of a FICO score Have you paid your credit accounts on time? Late payments, bankruptcies, and other negative items can hurt your credit score. But a solid record of on-time payments helps your score. 2. How much you owe – about 30% of a FICO score FICO scores look at the amounts you owe on all your accounts, the number of accounts with balances, and how much of your available credit you are using. The more you owe compared to your credit limit, the lower your score will be. 3. Length of your credit history – about 15% of a FICO score A longer credit history wi
