How Are Credit Scores Calculated Part 4 of 6

Length Of Credit History

This is not as important as the previous topics but it still matters. It considers the age of the oldest account and the average age of all of your accounts. It is possible to have a good score with a short history but typically the older the account, the better.Young people can still have a high score as long as other factors are positive. If a person is new to credit then there is little they can do to improve a credit score. The only solution is to open an account and be patient.

Part 5 of 6 will follow shortly

For questions, contact Bill Spragg at BSpragg@LcaNow.com or 281 804 3333 or Harry Bradley at HBradley@LcaNow.com or 713 419 7151

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