Find out more on Debt Consolidation Credit Counseling In Phoenix Now!
Tuesday, March 3, 2009
You have probably seen that commercial that asks you if you know your credit score. They give you a range that tells you where your credit score is supposed to be, and they discuss the importance of understanding your credit score and bringing it up to where it should be.
It's critical that you know what your score is and that you know what a good score is. Your goal should be to continue to get a higher score until you are in the range of "excellent". What is your credit score? It is a grade on your credit, and your credit report show the work you put into it. You can get a copy of your credit report through the link below.
Your credit history lists out all your past dealings with credit. This can range from credit cards to any kind of loans such as student loans, or mortgage loans. The history includes any information about if you've paid your bills on time, late, or if you haven't paid them at all. The better you are about paying your bills on time, the better your credit will be. If you've never made a late payment or missed a payment, you'll have excellent credit.
The credit bureaus compile your credit history into a report and then give it a score called your credit score. Why do they do this? The next time you apply for a loan whether it's a car loan, home mortgage, credit card, or other type of loan, the lender or creditor will request a copy of your credit report.
You credit score is critical when getting alone. Sure, they look at your income and job stability, but it's your credit that is the deciding factor as to whether or not they'll lend you the money. You must have good credit to get a loan.
Risk has a lot to do with lending. Creditors want to be sure that you are a very low risk, and they see that you never pay people back, they will not lend you any money. You have to prove yourself before anyone will give you a penny, no matter what you're using it for.
Your credit history will also affect the terms of the loan. If you missed a few payments over the years, they will try to make up for the risk by charging you a higher interest rate or by not giving you as much money.
It's very likely that you will need a loan at some point in your life. Always keep an eye on your credit by checking your credit reports once a year. You can get free copies at the links below.
It's critical that you know what your score is and that you know what a good score is. Your goal should be to continue to get a higher score until you are in the range of "excellent". What is your credit score? It is a grade on your credit, and your credit report show the work you put into it. You can get a copy of your credit report through the link below.
Your credit history lists out all your past dealings with credit. This can range from credit cards to any kind of loans such as student loans, or mortgage loans. The history includes any information about if you've paid your bills on time, late, or if you haven't paid them at all. The better you are about paying your bills on time, the better your credit will be. If you've never made a late payment or missed a payment, you'll have excellent credit.
The credit bureaus compile your credit history into a report and then give it a score called your credit score. Why do they do this? The next time you apply for a loan whether it's a car loan, home mortgage, credit card, or other type of loan, the lender or creditor will request a copy of your credit report.
You credit score is critical when getting alone. Sure, they look at your income and job stability, but it's your credit that is the deciding factor as to whether or not they'll lend you the money. You must have good credit to get a loan.
Risk has a lot to do with lending. Creditors want to be sure that you are a very low risk, and they see that you never pay people back, they will not lend you any money. You have to prove yourself before anyone will give you a penny, no matter what you're using it for.
Your credit history will also affect the terms of the loan. If you missed a few payments over the years, they will try to make up for the risk by charging you a higher interest rate or by not giving you as much money.
It's very likely that you will need a loan at some point in your life. Always keep an eye on your credit by checking your credit reports once a year. You can get free copies at the links below.
About the Author:
What is a credit report? Learn how to receive a free copy of my credit report and what your credit score has to do with you.
posted by Credit Counseling at
3:49 AM
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