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.
If you do know your credit score, that is great, but there is more to it. You need to have a very good credit score. Not just good, but excellent. Your credit score is a rating of your credit. It is like a grade on a history test, except it's a grade on your credit. Your credit history can be summed up in a credit report. You can get a free copy of your credit card at either of the links below.
Your credit history includes everything you have ever done that has to do with credit. It includes all the loans and credit cards you have and have had in the past as well as if you have paid your bills on time, late, or at all. If you pay all your bills on time, all the time, you will have a good credit history. These bills include everything from your mortgage payments to utility bills. Even just one late payment can have a big impact on your credit.
There are three credit bureaus that each make a credit report of your credit history. Whenever you apply for a loan, the lender or creditor will bring up your credit reports and check them to see how good or bad your credit is.
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.
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.
Even if you get a loan with a not-so-good credit history, the terms of the loan will be pretty bad. For example, you might show that you make a lot of late payments, so they give you a loan with a high interest rate and they only give you a small amount of 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. - 15790
If you do know your credit score, that is great, but there is more to it. You need to have a very good credit score. Not just good, but excellent. Your credit score is a rating of your credit. It is like a grade on a history test, except it's a grade on your credit. Your credit history can be summed up in a credit report. You can get a free copy of your credit card at either of the links below.
Your credit history includes everything you have ever done that has to do with credit. It includes all the loans and credit cards you have and have had in the past as well as if you have paid your bills on time, late, or at all. If you pay all your bills on time, all the time, you will have a good credit history. These bills include everything from your mortgage payments to utility bills. Even just one late payment can have a big impact on your credit.
There are three credit bureaus that each make a credit report of your credit history. Whenever you apply for a loan, the lender or creditor will bring up your credit reports and check them to see how good or bad your credit is.
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.
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.
Even if you get a loan with a not-so-good credit history, the terms of the loan will be pretty bad. For example, you might show that you make a lot of late payments, so they give you a loan with a high interest rate and they only give you a small amount of 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. - 15790
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What is a credit report? Find out more about how to receive a free copy of my credit report and what your credit score has to do with you.