A Beginner’s Guide to Credit Scores
May 25, 2008 · Print This Article
Do you know what your credit score is? You probably do, because that little three digit number is almost as important as your Social Security number when it comes to getting things like a job, a home, a car, insurance, or a credit card. This number can change, depending on the state of your credit. If your credit is AAA, you will have the highest possible credit score. If your credit is not so good, then you will have a pretty low credit score. A score of 760 or above is considered excellent, while a score below 620 will tell anyone who checks that you are a bad credit risk.
Why is your credit score so important? If you want to take out a loan or get a credit card, your chances are a lot higher if your credit score is on the high side. If your credit score is low, it will be difficult, though not impossible to get credit. You will just have to pay more than most people for the things you want in the form of high interest rates tacked onto loans. About the only type of credit card you can get with a low credit score is a secured credit card, where you have placed money in an account to secure your credit. If you want a card with a $1000 limit, then you must put $1000 in the bank.
A high credit score means that your payments on your credit cards, car, mortgage, insurance, and even your cell phone will be lower. With a high credit score, you don’t have to worry about paying a deposit for utilities like electricity, gas, water, telephones and the like. You also don’t have to worry about not being approved to rent that apartment or home with a good credit score. Landlords will check your credit score before renting to you to insure that you are conscientious enough to pay your rent on time. They figure that if you pay your bills late, your rent will be late, too.
More and more employers are performing credit checks on each applicant they get for a job, especially in the retail sector where you will be handling money. You will know that your credit is going to be checked when you apply for the job, as you will have to sign a form that gives your consent before the employer can proceed. Many a person who was well qualified for the job and thought they had it “in the bag” has been dismayed to find out that bad credit kept them from being hired.
It’s a good idea to check your credit report once a year in order to keep on top of your credit score. Most people have a pretty good idea of their credit standing and also how much money they owe to creditors, but your credit report will list everything that has been done in your name, and could help you to deter identity theft. There could also be other mistakes on your report that need to be corrected.
You can get a free copy of your credit report once per year from each of the three credit reporting companies.
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See all three of your credit reports and credit scores with your 7-day FREE Privacy Matters 1-2-3 trial membership.
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I think this is their answer to Mark Jacobson. I think the badger loos strikenly similar…
Because not all creditors report to all 3 bureaus. Some only report to 1 or 2 bureaus. Additionally, they use slightly different proprietary scoring models which causes some score variations.
Stanley Kubrick film, very funny. NedN
Article by at 2010-08-01 17:26:04
Categorized in Identity Theft,
Looking forward to: Rebuilding for Credit Repair and Scores
OMG I love this one its mah fav. My sis n I have made a thing outta memorizin all of em and its soo cool haha. i dont kno the bike one yet. im learnin this one tho haha
Think very carefully before you do this. Depending on your state, debts are only legally collectible for a certain period of time. In addition, they can only be reported for a certain period of time. Depending on when the last activity was on your account, you may have passed this time threshold, or are approaching it, but paying a lesser amount will re-start the reporting time clock. Do some research and find out what the statute of limitations are in your state. You may have to live with a crappy credit report for just a little while longer until such time when the negative stuff begins to fall off.
I'm not saying that's the moral or ethical thing to do, but we're not here to judge anyone's moral compass (or lach thereof).
Anyone wanting to sell Free Energy Systems…Free Electric, Free Heating and Cooling, Systems that run cars on free Hydrogen! …. send me a private Message. Thanks, Chris IF YOU WANT TO KNOW REAL CREDIT SECRETS FOR FREE, SEND ME A MESSAGE! THIS IS NO LIE! I know what I know from researching 9/11. Seek and ye shall find!
Why is Trans Union Credit Report Score 23 points lower than Equifax and Experian?
Credit scores, credit history & credit qualifications… is it really that complicated? -
funny. two supporting comments, each with 2 thumbs up. someone’s multi-accounting
Declaring bankruptcy is one of the ways a person can deal with his debt. But it is not the only way. Filing will have many long term consequences as well. The filing will stay on a person’s credit report for seven and sometimes up to ten years.
So what does one do to confirm that they have a good chance of getting a mortgage in this poor financial climate? Well the elementary thing to do is to get a copy of your credit report to evaluate the standing of your credit. That suggests obtaining a credit report on the internet for as [...]
Looking for Knowledge About Free Credit Score – Read This: Posted by Isaac Nicolay | Posted in Credit Report | Pos…
This guy got hacked many times haha
Article by at 2010-08-17 17:58:40
Categorized in Raise Credit Score,
Try lending tree. I used them for our home loan. You simply put in your info (and be honest), and they will match you with lenders who special in slow and less then favorable credit. But only do it if you are serious, because I did it at 2 in the morning, and by 9 AM the next day, they were calling me. It is intimidating to give all your personal information out like that, but the more honest you are, the more accurate the numbers will be. But remember, talk to all those who make offers to you, because you can do the old "this company offered me this" game with them. Don't be shy, they are there to make $ off of you, so be sure to carefully look over everything. (BEWARE OF ARM'S!! Go for fixed. The market is tankin right now!)
Excellent.
every scoring module is different and some lenders only report to 1 or 2 but not all 3 and that has an effect all the way around. This is why new lenders in your life use the middle score
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Business Credit Score: How to Maximize Your Company Scores
Consumers lean toward private labels to improve credit scores: Money Management. Bankruptcy · Budget Basics · Cred…
Article by at 2010-08-27 20:16:02
Categorized in Mortgage Refinance,
I need the instrumental verison of this
Secrets To Fixing Your Credit Scores That Shape Your Financial Future
Pull a credit report on any Limited company in Sweden. Check out the current Rating, who is a member…
Well, you can go to http://www.annualcreditreport.com/ , you need to follow the steps, and question that they ask you. it is free and you can get all 3 credit report. you need to have a working printer and more then 40 pages for all 3……..good luck
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Free Credit Scores | Credit.com: Employers may weigh some information on credit report more heavily than others. C…