Credit
scores are a number that is calculated by taking into account the credit
history of a person. This number is then used to determine whether or not
someone is eligible for certain loans, mortgages, and other types of financial
assistance. A good credit score can have a huge impact on the financial future
of an individual.
A good credit
score can be obtained in many different ways including paying
bills on time, having low balances on one's credit card, and not applying for
too many loans. If people are struggling with their credit scores then they
should look into what they can do to raise them before it becomes too late.
What is a Good
Credit Score?
A
good credit score is a credit score that is high enough to qualify for the best
rates available.
A
good credit score is in a scoring range of 640-850. Anything below that may not be
enough to qualify for loans and other financial products, or it may require
higher interest rates.
How to Get an
Excellent Credit Score
1. Understand the significance
of your credit score
2. Understand what affects
your credit score
3. Pay your bills on time
4. Keep your balances low
5. Get a copy of your credit
report and review it for errors
What are the
Factors That Determine My Credit Score?
The
factors that determine your credit score are:
-
Payment History: This is the most
important factor. If you don’t pay your bills on time, it will affect your
credit score.
-
Amounts Owed: The amount of debt you
have and how much you owe will also affect your credit score.
-
Length of Credit History: The longer
your credit history the better, because it shows that you have been able to
maintain a good credit
rating for a long time.
-
Types of Credit in Use: This includes
any loans or lines of credit that are open and any other debts like mortgages
or car payments.
-
Credit Inquiries: How many times
someone has looked at your credit report within a certain period of time can
affect how high or low your score.
Call on (888) 803-7889 & get a good credit score!
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