Protecting your credit and scores

A Good Credit Score: Tips


What is the meaning of a good credit score, many may ask. One of the primary concerns of every borrower and lender is credit score. Your credit score can be checked either with your creditor or bank. In America, credit score range between 300 to 850. Check your credit if you're not sure of your own score rating.

First, you should get my credit score fast. If you are far above the middle, specifically anything that, beyond 700 you are considered to have a really good credit score. Your credit history says a lot about your financial history.

Project proposals and major transactions require having a good credit score. For example, if you are submitting your bid for a construction project, you will be expected to produce a financial proof of creditworthiness and responsibility. If you have a good relationship with your bank, the bank manager will offer you a credit rating that will facilitate your bid.

So many factors determine a credit score such as the amount of late payments, the value of the debt owed, the number of public records and accounts. Keep in mind that the credit score can change within the shortest period of time. Your present efforts and repayments will as well be taken into consideration. In the United States, your personal details like religion, race, sex, marital status and nationality does not determine credit scores. Your age, income, location, occupation and employment history doesnít have any affect your score. Furthermore, any credit inquiry, employment and account review can never decide your credit score.

The weighting system is effective in deciding your credit scores. This is a scientific method that can only be understood perfectly by mathematicians. Your payment behavior will improve if you have erratic payments.


Determining Credit Score


Credit scores are made up of two categories; the generic free credit score- which is mainly used by a wide credit rating range of lending firms. This is the total risk carried out by the borrower. Custom score is another type; this is the personís credit reports. The latter is available for special cases like housing and car loans.

Lenders make use of credit scores for particular reasons. The essential facts about it are that they are balanced, objective, unbiased, accurate, scientifically derived, and reliable. Previously, lenders didnít have an accurate way for assessing creditworthiness. Late payments donít mean that you will not be able to repay the credit. Present day assessment is not fair; they rely mostly on mathematical algorithms. Many consumers over the years have qualified for credit because of their objectivity.

Today, things are no longer judged by appearances, because if you keep doing so, you will run into some problems. So, all we are saying is that both your past and present credit status helps in calculating your credit score.

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Our mission statement

We believe that everyone deserves a good credit. We are aiming to help consumer with their scores, by providing them quality informations and resources, so they can improve their daily life.



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