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These 5 Factors Determine Your Credit Score

No credit score is too high. Whether yours is 550 or 790, there's always room for improvement. But how does one go about raising it?

The answer is much simpler than you might think. This is because credit scores don't materialize out of thin air. There's rhyme and reason to them.

By uncovering how your credit score is calculated, you tilt the odds of a great score in your favor. That is, you can make the process work for you, as opposed to against you.

So how is your credit score determined? As I discuss in the following presentation, there are five things that influence the calculation. As a result, all you have to do is master these five simple variables in order to achieve an exceptional score.

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John Maxfield
JohnMaxfield37

John Maxfield has been writing for The Motley Fool since 2011 with a keen interest in helping readers improve their lives and become better investors -- himself included. He has a bachelor's degree in economics from Lewis and Clark College and a juris doctorate from Southern Methodist University. He's a licensed attorney in the state of Oregon, and resides in Portland with his wife and twin sons. View John Maxfield's profile on LinkedIn

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