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Some of the Negative Factors Contributing to Your Score Are;



1. You have one or more missed payments. Missing payments is the most damaging thing you can do to your credit. The purpose of a credit score is to help lenders predict whether or not you will miss payments in the future, so even a single missed payment can significantly lower your score.



2. Your average age of accounts is less than 5 years and 11 months. While a short credit history does not mean that you have been irresponsible with your credit, it does make it more difficult for lenders to be confident in your ability to make future payments because you have not stood the test of time.



3. Your average credit card limit is less than $2,000. Lenders understand that it is much easier to manage a small amount of credit vs. a large amount of credit. Your relatively low credit limits signal to lenders that you have not had experience managing large amounts of credit, which makes them worried about extending more credit to you.



4. You have five or more inquiries. Every time you apply for a loan, credit card, or retail card an inquiry is recorded on your credit report. Having a lot of inquiries on your credit report worries lenders, because it is a sign that you may use credit and loans to supplement your income, and might be spending beyond your means.



5. Your credit-to-debt ratio is more than 51%. You have spent more than half of the credit that has been extended to you, and lenders see this as a sign of irresponsible credit behavior. Ideally, you would pay off your balances every month or at least keep your credit-to-debt ratio under 15%.