While shopping during holidays, you might not be able to keep track of your spending. Often times, you will spend more than what you actually planned which can run your credit.

Credit scores are calculated from various factors. The absence of credit history or a high credit to debt ratio is factors that can ruin credits scores and reports. An individual has to maintain them to survive in a challenging credit market.

Good scores are essential for acquiring a mortgage deal. Lenders look at scores to determine one’s worthiness. New graduates have to keep their history clean for elevating the scores.

Credit scores are blocks that build image in the lenders’ eyes. The credit rating of an individual determines his or her risk in paying back an amount of money. Thus it’s important to know the factors affecting credit scores.