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Thursday, December 11, 2008
The number of your credit score and determine a lot for an individual. If you have a high credit score then you are more able to live a more relaxed life. Your credit score can have a large impact on your decisions when it comes to buying a house, a car, and many other large purchases.
Many people, unfortunately, have no idea as to what their credit score is at a given point in time. This can be an issue, especially if you're looking to make a purchase, like a house or a new vehicle. Before you apply check credit report services to see what your score is.
In the US, there are three major credit reporting sites that have scores determining your credit worthiness. This score, known as a FICO score, was developed by a group called Fair Isaac, which works to define what good credit is for individuals. The FICO score can range from 200 to 800, with a higher score being better.
Before you begin applying to buy a large object, check your FICO score to ensure that you have a good score. This is a free process available to everyone once a year. When you check your score you can also check activity on other accounts to make sure your credit history is correct.
If you do find out that you have a bad credit score then you should try to improve this score immediately. Nothing occurs instantly so your credit score will not improve in a few days. You will need to work at improving your credit but in order to do that you should understand how your credit score is calculated in the first place.
Help is available for those whose credit scores are down through a variety of sources. Credit counseling services are available for those who need it, and credit bureaus have lists of recommended people to contact to help with problem credits. Do not hesitate to bring in assistance if your credit is in bad shape.
Additionally, your credit is a reflection of your lifestyle and spending habits. If you are someone who spends a lot of money on credit, your score will be bad in many cases. If you use some discretion in your spending and maintain current payments on accounts, your score will be higher. Try not to overextend the amount of credit you have outstanding.
Keeping track of your credit score and making sure you pay your bills on time can help you live a more comfortable life. Make sure you know what your credit score is before you fill out applications to apply for a home or purchase a car. Keep up to date on your credit and you will be rewarded.
Many people, unfortunately, have no idea as to what their credit score is at a given point in time. This can be an issue, especially if you're looking to make a purchase, like a house or a new vehicle. Before you apply check credit report services to see what your score is.
In the US, there are three major credit reporting sites that have scores determining your credit worthiness. This score, known as a FICO score, was developed by a group called Fair Isaac, which works to define what good credit is for individuals. The FICO score can range from 200 to 800, with a higher score being better.
Before you begin applying to buy a large object, check your FICO score to ensure that you have a good score. This is a free process available to everyone once a year. When you check your score you can also check activity on other accounts to make sure your credit history is correct.
If you do find out that you have a bad credit score then you should try to improve this score immediately. Nothing occurs instantly so your credit score will not improve in a few days. You will need to work at improving your credit but in order to do that you should understand how your credit score is calculated in the first place.
Help is available for those whose credit scores are down through a variety of sources. Credit counseling services are available for those who need it, and credit bureaus have lists of recommended people to contact to help with problem credits. Do not hesitate to bring in assistance if your credit is in bad shape.
Additionally, your credit is a reflection of your lifestyle and spending habits. If you are someone who spends a lot of money on credit, your score will be bad in many cases. If you use some discretion in your spending and maintain current payments on accounts, your score will be higher. Try not to overextend the amount of credit you have outstanding.
Keeping track of your credit score and making sure you pay your bills on time can help you live a more comfortable life. Make sure you know what your credit score is before you fill out applications to apply for a home or purchase a car. Keep up to date on your credit and you will be rewarded.
About the Author:
To find out exactly how you can get your annual credit report visit my credit report website.
posted by Credit Counseling at
9:32 AM
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