Equifax Credit Rankings™

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Average Total Debt

What this means:

Average Total Debt is generally used to determine something very important. A lower debt amount will generally improve your chances of getting a lower rate on high-cost purchases, such as a car or home.

Average Credit Card Debt

What this means:

This amount represents the average amount of credit card debt and will include credit cards, retail cards, gas cards, and other types of revolving cards. Research shows that consumers owing more on revolving accounts have greater repayment risk.

Average Credit Utilization

What this means:

Credit utilization is defined as total available revolving credit (e.g. credit cards) divided by total credit debt. The closer this number is to 1, the lower a persons credit purchasing power due to high credit debt. Research shows that the higher the debt, the greater the repayment risk.

Average Number of Inquiries

What this means:

An inquiry is done on a credit file when a consumer is applying for credit. Research shows that consumers who are seeking several new credit accounts are riskier than consumers who are not seeking credit. Apply for credit only when you need it.

Average Number of Open Credit Accounts

What this means:

This represents the total number of open credit accounts. Research shows that consumers who are seeking several new credit accounts are riskier than consumers who are not seeking credit.

Average Number of Late Payments

What this means:

Research indicates that consumers with previous late payments are more likely to pay late in the future and are therefore more risky. A late payment indicates payments late by 30-120 days.

Average Mortgage Payment

What this means:

This amount represents the average mortgage payment.

Average Mortgage Balance

What this means:

This amount represents the average mortgage balance (e.g. amount owed).

Average Automobile Payment

What this means:

This amount represents the average automobile payment.

Average Automobile Balance

What this means:

This amount represents the average automobile balance (e.g. amount owed).