Credit Trap: No Credit History and Short Credit History

Posted by CapWay in CreditApril 17, 2019(Last Updated November 1, 2021)1 min read
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Are you ready to make some real money moves?

Your credit history makes up 15% of your credit score. This means that a longer credit history actually helps your score. If you are just starting out, don't worry. Focus on building a strong credit history with on-time payments and keep your balances low. 


If you have a long credit history, be careful of closing your oldest accounts. Your score will most likely drop.  


Check out Credit Trap #4: Too Many Applications

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