A Credit Score?

There are two main levels of credit reporting agencies. When you obtain credit, the creditor reports your payment history of these three great principal offices in their databases.

Credit Score Definition

Credit Score Definition

A credit score is determined by several factors. This includes the history of your credit, your accounts, the history of debt, etc. With each of these factors, the points are then determined as a. High or low with each party

What is a good credit score?

Credit Score Chart

Credit Score Chart

A good score is above 650, you get a good interest rate and gain acceptance for most loans. Be warned, if you go below this score could add an additional $ 1500000 on a loan only $ 160.00, over 30 years. It is interesting to try to improve your credit score.

Credit Score Pie Chart

Credit Score Pie Chart

Tell me what factors affect my credit score?

Payment History 35%

Amount of the debt by 30%

Length of Credit History 15%

New Credit 10%

Types of credit used 10%

Credit Score Range

Credit Score Range

Problems with Credit Scoring?

It is usually done monthly but can be done on an irregular basis. These companies accept the information as it comes in electronically and they do not check the information for errors or identity theft.

History Credit Rating The first third of the consumer independent offices were established in America in the mid-1800s. National in scope and operating much like a modern franchise system. They were put in place a network of offices across the country.

How Credit Scoring is now working as we have developed in a more mobile population, it overwhelmed the existing credit agencies. Today, a more scientific system was necessary. Thus, it could quickly track information on hundreds of millions of people. A great help for credit cards have been helped by plastic.

It’s a good idea to check your credit report often Did you know that 52% of all victims of identity theft! They discovered they had been victims of identity theft by monitoring their accounts. Reference U.S. Federal Trade Commission and the Council of Better Business Bureaus estimates that identity theft cost $ 2.5 billion a year to consumers (Canada only!) Reference CBC News Online

A credit score is determined by several factors. This includes the history of your credit, your accounts, the history of debt, etc. With each of these factors, the points are then determined as a. High or low with each party

I sincerely hope this info gets your mind is idling. I hope it gives you some tips and gives you some advice credit rating good to think about getting your credit report.

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