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Credit Score 101 for Freelancers

Freelancers face more credit scrutiny than employees. Learn how credit scores work and how to build an excellent one on self-employed income.

By FlowFund TeamJune 28, 20263 min read

Why It Matters More for Freelancers

Banks and landlords are more cautious about freelancers. A strong credit score compensates for unpredictable income perception.

The Five FICO Factors

Payment history (35%): One 30-day late payment drops your score 50-100 points.

Utilization (30%): Keep cards below 10% of limit.

Length of history (15%): Never close your oldest card.

Credit mix (10%): Revolving plus installment is better than one type.

New credit (10%): Space out applications.

Building Credit

One credit card, small recurring bills, paid in full monthly. Repeat 12-24 months.

Monitor

AnnualCreditReport.com for free annual reports. Dispute errors immediately.

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