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Educational Resources
In addition to our basic services, Legacy Credit Partners hopes to provide information and guidance to our clients about how to deal with various credit problems. Contact us if you have any questions and we’ll gladly assist you.
Credit Score 101
Your credit score is derived of a few factors:
Payment History is 35% of your score
Amount of debt to credit usage 30%
Age of Credit 15%
Inquiries or recent application for credit 15%
Credit mix or type of accounts is 10% of your score
What You Should Know Before Opening a New Credit Card
The best credit cards aren't for beginners
A security deposit makes credit cards easier to get
You can see rates and fees before applying
Pay more than the minimum required
Getting to close to the limit can sink your score
Interest is completely avoidable
Budgeting
A simple budget can be started by using the 50/30/20 guideline and keeping track using the budget tracker of your choice. Below is how the 50/30/20 works:
50% of income devoted to your needs
30% committed to your wants
20% to savings and paying off debt.