Why is my credit rating poor(589)???

[sweetcanz4u]

I just checked my credit report, and it's a 589! It said I have 0 negative items, and 27 items in good standing. About 10 out of the 27 items were student loans that added up to about $25,000, 2 of the items were credit cards that added up to $5000. I've never been late on any payments, and I have no idea why my credit rating is poor. Is it because of the ratio of how much I have in comparison to the lines of open credit?? Like, if you oh more than 50% of all your lines of credit, does that knock it down? I'm going to be paying off these credit cards very soon, how many points do you think it will increase once I pay them off? Thanksthanks wizip for completely NOT answering my question.

[MARTHA A]

Yep your credit score is based on how much you have borrowed...they figure how much you make each year and if you make less then what is charged then it effexts your score...try to consoliate you bills thru your bank...this will give you one payment and will eliminate high interest rates you may have..