Credit Score Explanation - ads28.com :: Ads28 Online Advertisement

Today's Post

test banner

Post Top Ad

Responsive Ads Here

Post Top Ad

Responsive Ads Here

Credit Score Explanation

Credit Score Explanation

Numbers have different meanings. In school, you are given an “A” if you excel in a particular subject. In the real world, a 600 or 700 could have an effect on your ability to get a loan. This is called your credit score and to give you an idea, here is an explanation. 

The credit score is an indicator that tells lenders if you will be able to pay the amount that will be loaned to you. The scale goes from 340 to 750 and the higher it is, the less risk the lending institution is taking because they know you will be able to pay for it with interest. 

If your score is below 700, you can still apply for loan but expect to pay at a higher interest rate as this is the only way that the lending institution can be sure you will be able to pay them back. 

Your credit score is calculated based on several factors. Thirty-five percent of the total score is based on your credit history. You could get a perfect score here or have a few deductions if ever you have had any late payments or bankruptcies. The more recent it is, the greater the deduction. 

Thirty percent is based on outstanding debt. This may come from car or home loans, credit cards bills and utilities. If you use your credit, make sure you only use 25% of the limit or less so it does not have effect on your credit score. 


Fifteen percent of the credit score comes from the length of time that you have had credit. The longer you have it, the better because this will give creditors an idea of your consumer behavior. 

Ten percent of the score is from the number of inquiries you have made in the past. The trick here is not to have many inquiries. Those who do inquire frequently give creditors the impressions that you are piling up your debt. 

The last ten percent is based on the types of credit you currently have. This includes the number of loans and credits that are available to you. This weighs heavily when you are just establishing your credit history. 

There is no actual passing or failing mark when it comes to your credit report. However, creditors have designated 700 to be the ideal credit score you should get. Sixty percent of Americans are able to achieve this so it shouldn’t be that hard for other people. 

But if you are one of those that are not able to reach it, you can still improve on your score. If you have outstanding debt, pay for it. If these are credit cards, make sure that this is paid on time. 

If you are having a hard time, try to negotiate with the lender so an arrangement can be made and this doesn’t have to appear anymore on your record. 

Now that the credit score has been explained, you will now be able to interpret what those three digit numbers mean when you get a copy of your credit report. Aside from looking at the total score, review each item carefully so that if there are any errors, this can be reported and corrected.

The credit score also changes annually so don’t forget to get one a new one the following year. 

No comments:

Post a Comment

Domain for sale

Domain for sale
Networking (12) video (12) Dofollow Backlinks (9) Social Bookmarking Sites (9) Bookmarking Site (8) Free Directory List (8) google Adsense (8) marketing (8) Adsense Safe.Website Traffic (7) Authority Domains (7) EDU - GOV Backlinks (7) Web Directory Site (7) directory sites seo (7) Adsense (6) Domain (6) Sale Domain (6) ads28 (6) business (6) mlm (6) network (6) network marketing (6) whitehat backlinks (6) Online Dating (5) Page Rank Domain Sale (5) seo (5) Adsense ad units (4) Boost your Alexa (4) business networking (4) buy domain (4) internet marketing (4) Most famous Viral video (3) News (3) dating (3) marketing tips (3) referrals (3) Bank (2) Banks (2) Business/Job opportunity (2) Client Attraction Coach (2) Health Insurance (2) IRDA Grievance Call Centre (2) Leni Chauvin (2) Life Insurance (2) Most viewed YouTube videos (2) REAL Visitors (2) Sell PR Domains (2) Sell Premium Page Rank PR Domains (2) Usefull TollFree Numbers (2) Viral video on youtube (2) Website Traffic (2) Western Digital India Customer Care Number (2) adult dating online (2) buy twitter follower (2) customers (2) downline (2) godaddy (2) internet (2) marketing ideas (2) marketing strategy (2) money (2) professional development (2) sales (2) seo site (2) services (2) small business marketing (2) web traffic (2) Aadhaar Card (1) Aadhaar Card Toll Free Number (1) Agreement as valid Address Proof. (1) Apartment for Rent in burj khalifa (1) Apartment for sale in burj khalifa (1) Apartment in dubai downtown for rent (1) Asian Paints (1) Asian Paints Customer Care (1) BEST FUNNY NEWS (1) BLOOPERS 2016 (1) Backlinks (1) Beautiful Water Painting (1) Bharat Gas (1) Bharat Gas Customer Care Phone Number (1) Blank Space (1) Blog guest post (1) Blogger Website (1) Blogs (1) Bookmarking (1) Bookmarking service (1) Building (1) Business Website (1) Business group (1) Business organizations (1) Business-group (1) Business-organizations (1) CIBIL (1) CIBIL Customer Care (1) Carrier AC Customer Care (1) Chanakya IAS Academy (1) Chanakya IAS Academy Ahmedabad (1) Chanakya IAS Academy Coaching (1) Chanakya IAS Academy Hazaribagh (1) Chanakya IAS Academy Ranchi (1) Chanakya IAS Academy South Delhi (1) Chat (1) Click2Protect (1) Coach (1) Communication (1) Consumer Affairs Department (1) Consumer Helpline (1) Credit Information Bureau (1) Custom and Professional Blogger Website (1) Data Entry from home for money (1) Date (1) Dating Online (1) Deepak Bansal IPS - Success Speaks Episode 8 (1) Dell Customer Support (1) Desi (1) Do follow Social Bookmarking Sites (1) Dofollow Social BookMark (1) Domains (1) Ebay Customer Care (1) Ebay Customer Care India (1) Ebay Customer Care Number (1) Ebay Customer Care Number In India (1) Ebay Customer Complaints (1) Ebay Customer Service (1) Ebay Customer Support (1) FACEBOOK page LIKE (1) FIRST KISS (1) Facebook is a social networking (1) FedEx (1) FedEx Customer Care (1) Federal Bank Customer Care Number (1) Forums (1) Free Dating (1) Free Online Dating (1) Fujitsu Laptop (1) Gangnam Style (1) General Insurance (1) Get an edge (1) HDFC Life (1) HDFC Life Customers Service Number (1) HDFC Mutual Fund or Investment Services Account (1) HOW TO KISS (1) HOW TO KISS TUTORIAL (1) Health India TPA Services Toll Free number (1) Health Insurance TPA (1) Helpline Number at Amazon (1) High Authority Backlinks (1) Highlight your Service (1) Highlight your Service on seoclerks.com (1) Home Based Data Entry (1) IRDA Contact Number (1) IRDA Head Office (1) Indian (1) Insurance Regulatory and Development Authority IRDA Contact Number (1) Jab Harry Met Sejal Trailer (1) Kingson Dream (1) Kingson Dream Motivational Video (1) Know your business (1) LMFAO (1) Laugh (1) List of Non-Life Insurance Companies in India (1) List of Non-Life Insurance Companies in India (1) Listen (1) MLM Email Leads (1) MLM Lead Generation (1) MLM Leads (1) MLM Leads List (1) Man (1) Mangalayatan University Customer Care (1) Mediclaim TPA (1) Meeting friends (1) Men (1) Millionaire (1) Millionaire Dating (1) Millionaires (1) Mini Desktop Computer (1) Motivational Video (1) Myspace (1) PR Backlinks (1) Pagerank Backlinks (1) Pakistani (1) Passport Seva (1) Passport Seva Customer Care Number Toll Free (1) Paypal Customer Care‎ (1) Paypal India Customer Care‎ (1) Paypal India Customer Care‎ : 1800-212-3852 (1) Picture rating (1) Pizza Hut 50% Off Pizza Coupons‎ (1) Pizza Hut Buy 1 Get 1 Pizza Free‎ (1) Pizza Hut Coupons Promo Coupon (1) Pizza Hut Flat 50% Off Coupon‎ (1) Psy (1) RDP Mini PC (1) Registered Rent Agreement as valid Address Proof (1) Results (1) Rich (1) Rich Dating (1) Rich Men Dating (1) SBI NRI Services (1) SMS (1) SWIFT Code (1) SWIFT Code of SBI (1) Sell Buy (1) Sell Page Rank Domains (1) Selling (1) Small PC (1) South Asian (1) Stock Broker (1) Success (1) TP LINK India Customer Care Number (1) TPA For Mediclaim (1) TPA Health Services (1) TUTORIAL (1) Taylor Swift (1) The Real Secrets (1) The Real Secrets To Success (1) Time (1) Transformation Success (1) Twitter Profile Verified (1) Type at home (1) Typing Simple Data Entry (1) UID (1) UIDAI (1) UNDRESS ME (1) Ultimate Like a Boss Compilation 2015 (1) Unique Identification Authority of India (1) Vip Bookmark (1) Water Painting (1) Wealthy (1) Wealthy Man (1) Wealthy Men (1) Wealthy Men Dating (1) Web Visit (1) Western Digital (1) Western Digital India (1) ath (1) backlink (1) business card (1) business growth (1) business opportunity (1) buy Facebook like (1) buy Blogger Website (1) career advancement (1) career success (1) careers (1) careet (1) chicago dating (1) click to protect (1) coaching (1) conference (1) control your laughter (1) custom domain (1) desis (1) directory submission seo marketer (1) duplicating (1) ebook (1) effective (1) effective learning (1) elevator pitch (1) employment (1) enterprise (1) fednet toll free (1) friendship (1) google plus followers (1) home (1) home based business (1) home business (1) homebased business (1) information (1) interviewing (1) job offers (1) job search (1) joint ventures (1) kiss (1) letter of recommendation (1) letter of reference (1) letter writing (1) list of general insurance companies (1) marketing strategies (1) mentoring (1) mlm business (1) mlm business opportunity (1) mlm home business (1) mlm lead (1) mlm network marketing (1) mlm opportunity (1) networking on the internet (1) networking while finding a job (1) networkmarketing (1) networks (1) off optimization seo (1) online business (1) pNewsarty rock anthem (1) personal success (1) personalised profiles (1) profit (1) promotion (1) relationship (1) relationship building (1) residual (1) residual income (1) sales skills (1) sell Blogger Website (1) seoclerks.com (1) simplify (1) small business (1) social networking (1) steve jobs biographie (1) steve jobs biographie livre (1) steve jobs film (1) steve jobs histoire (1) steve jobs histoire de la pomme (1) strangers (1) trust (1) twitter follower (1) values (1) what do you do (1) work at home (1) work at home business opportunity mlm (1) young adults (1) youtube views (1) ‎ Bookmarking Sites (1)

Post Top Ad

Responsive Ads Here