Credit Score Impact Calculator
Calculate how different financial decisions impact your credit score. See the effects of loans, payments, credit utilization, and more on your credit rating.
Step 1: Current Credit Status
Credit Score Factors
Your credit score is calculated based on payment history (35%), credit utilization (30%), credit age (15%), credit mix (10%), and new credit (10%).
Step 2: Financial Decisions
Understanding Credit Impact
Hard inquiries typically affect your score for 12 months but remain on your report for 24 months. Payment history is the most significant factor in your credit score.
Credit Score Impact Results
Projected Credit Score
Credit Score Factor Impact
Improving Your Score
To improve your credit score: Pay all bills on time, keep credit utilization below 30%, maintain a mix of credit types, and avoid unnecessary hard inquiries.
Credit Score Recovery Timeline
Recovery Strategies
Timeline for Credit Recovery
Late payments: 6-12 months to recover. Hard inquiries: 3-6 months. Collections: 1-2 years. Bankruptcy: 2-4 years for significant improvement. Consistent positive behavior is key to credit recovery.
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