Your credit score is calculated based on the information in your credit report. Credit scores allow lenders to quickly make on-the-spot credit decisions based on a 3-digit number that sums up your credit worthiness. There are many credit scoring models in use today; all are designed to rate your likelihood to repay your debts. When you order your credit score, you will also receive an analysis of the factors affecting your score.
Your credit report is a snapshot of your credit at a particular moment in time. However, in reality that information is flowing in and out of your credit report all the time. Credit applications, home and auto loans, payments, an address change or even an inquiry from a prospective creditor all show up on your credit report - and affect your credit score.
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Credit history is the main determining factor of credit nowadays, but there are potential problems that can work against consumers. Since some credit reports can contain inaccuracies serious enough to cause consumers to be denied credit, a loan or even a job, keeping abreast of changes to your credit file is vitally important.
safe credit report
Safe Credit Report Copyright 2009 - 2011
Safe Credit Report
Safe credit report Your credit scores are the ideal means of measuring credit repair progress. But what credit scores should you use? Here is a crash course on the tangled world of credit scores. Put on your seat belt! Safe credit report Without good credit scores your applications for a mortgage, a personal loan, a credit card, a homeowner's insurance policy, and even a job (yes, you heard me correctly, even a job) may be turned down altogether. Having low credit scores may cause the need for you to place large deposits down for items that most people do not even have to place a deposit, and/or you may have to settle for very unfavorable financing terms. Safe credit report These days, good credit isn't enough. Long term financial stability requires outstanding credit. The average person can save more money and get more options than they think just by improving their credit score.