2007-01-01 18:19:58 · 2 answers · asked by greatdame53209 1 in Business & Finance ➔ Credit
Not true. There is not a certain number but some debt like Mortgages and auto loans are consider good debts. This will not decrease your scores much if you keep your revolving credit lines low and continue to pay ALL your bills on time.
2007-01-02 12:09:52 · answer #1 · answered by lelekid4ever 5 · 0⤊ 0⤋
It may not. People do not realize that your credit score is based on a few factor.
1. the amount of debt you carry 30%
2. The payment history 35%
3. Length of credit 15%
4. Kind of credit 10%
5. credit history 10%
So if your mortage added a significant amount of debt to your name your score could have gone down a bit.
Kourtnie Donihoo
Debt analyst
The E.D.A. Group
2007-01-02 07:57:09 · answer #2 · answered by Kourtnie D 4 · 0⤊ 1⤋