Additionally it is notable that installment loans may be best for bad credit. Your FICO credit history is dependant on different facets of credit history:
- 35% Payment History вЂ“ Repossessions, bankruptcy and payments that are late this score.
- 30% Debt Burden вЂ“ present quantities owed, quantity of reports with balances, amount paid off, etc.
- 15% period of Credit History вЂ“ Average chronilogical age of accounts and age on earliest account.