Your credit score has a direct impact on how much you can borrow and whether or not you qualify for the lowest rates. Several factors affect your credit score, including the types of credit you already have (like student loans or auto loans, for example), the age of your credit and how much of your credit you’re actually using. Late payments also have a major impact on your credit and can impact your score for several years. That’s why you should always review your credit report to make sure there are no mistakes or inaccuracies. Any time you see a mistake, you should immediately contact the credit bureau to get the issues fixed. To get a free credit report and score, go to www.Quizzle.com. For more information on credit scores and reports, go to www.QuickenLoans.com/Blog.