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Created with Fabric.js 1.4.5 Credit Scores 35% 30% 15% 10% 10% Payment History Credit utilization Length of Credit History Your credit score, of Which the biggest is FICO, is based upon five factors, Payment History, Credit Utilization, Length of Credit History, New Credit, and Credit Mix. New Credit Credit Mix What do they do?They allow banks and companiesto see if your faithful in paying debts back.It can help you get lower interest rates on loans.The higher your score the better.The majority of scores are in the 600-700 range. Over the Limit Fees!!!! An Over limit fee is a chargewhen your balance goes over yourallowed credit limit, and your purchases(transactions) will be declined. Over the Limit fees can be toughto get rid of, this is because when you have tomake minimum payments after exceeding you credit limit. Average Debt and Payments The average debt for credit cards is...Well there isn't one! This becauseDebt isn't measured the same for every credit card.So here are different types of averages fordifferent types of credit cards. 25% 11% 3% 17% 18% 5% 19% The Average debt of all these combined would be $30,619$4,374.1 average per person $1,098,Per Card without a Balance $1,648 With credit reportand Security Number $3,6000 average U.S adult resident. $5,234 per Card Holder excludingunused cards. $5,569 per U.S Adult with credit card $5,700, Per house hold with creditcard debt $7,743 per Card that usually carriesa balance APR &INTRODUCTORY RATES Introductory annual percentage rate (APR) is a low rate offered by a credit card company as an incentive to apply for the card. The APR will go up after the introductory period is over. Credit Bureau A credit bureau is a company that catalogs and sellsinformation regarding the payment behavior of consumers, and issues credit reports with related information. The three major national credit bureaus are Experian, Equifax and TransUnion. Also called a credit reporting agency.
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