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Factors that influence your credit scores at the 3 credit repositories include many things. A few of them include the proportation of your outstanding balance to your available credit. Your payment history (i.e. # of 30, 60, 90 dys late on the accout). Other derogatory factors include bankruptcies and foreclosures and how long ago they were. Generally, as something bad gets farther and farther away, it has less of an effect on your credit scores. Normally after something like this, it's always a good idea to establish some new tradelines like secured credit cards, (Capital One, etc.) to reestablish a track record of on time payments. |