Is your Credit Score where you want it to be?
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.
Credit reports are critical in the lending process. When you apply for a loan, the creditors will get a copy from 1 or more of the three credit bureaus that issue credit reports to see if you are credit worth. For any kind of loan or credit, they want to know if you'll pay them back.
The creditors will look at several factors in deciding if they'll give you a loan including how much money you make and how steady your job is. More importantly they look at your credit history to see if you are worth lending money to.
Your credit history is important to them because they want to know how much of a risk you are to them. If you have a history of not paying your bills on time or sometimes not at all, they assume you are going to do the same with their loan, so they don't give you any money.
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.
If you ever think you will need a loan, you must watch your credit. You can get one free copy of each of your credit reports every year. Check the link below for your free copies.
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.
Credit reports are critical in the lending process. When you apply for a loan, the creditors will get a copy from 1 or more of the three credit bureaus that issue credit reports to see if you are credit worth. For any kind of loan or credit, they want to know if you'll pay them back.
The creditors will look at several factors in deciding if they'll give you a loan including how much money you make and how steady your job is. More importantly they look at your credit history to see if you are worth lending money to.
Your credit history is important to them because they want to know how much of a risk you are to them. If you have a history of not paying your bills on time or sometimes not at all, they assume you are going to do the same with their loan, so they don't give you any money.
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.
If you ever think you will need a loan, you must watch your credit. You can get one free copy of each of your credit reports every year. Check the link below for your free copies.
About the Author:
What is a credit report? Learn more about 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
1:57 AM
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