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Credit Score Ratings

Once you apply for a job, the business will do a background check before hiring you. Banks and other lending institutions take action similar to make sure you pays for the loan by taking a look at your credit score scores.

The credit score ranking is used not only in Usa but other nations around the world as well. How they refer to it as and the figures they’ll use may be different however it is designed to do the ditto.

How this is calculated depends on different factors like the amount of your excellent loans, the length of your credit background, the types of credit you have utilized and any new credit.

All these factors has a certain percentage so your credit score score could be from 300 to 750.

Individuals who have a good credit score rating will be able to apply for a loan with a low interest rate. Those who are in the red will have to pay at a higher interest rate or have to face the fact their request has been disapproved.

You can get a replicate of your credit score score by asking for a duplicate from an accredited company. These are namely Expedia, Equifax or even Transunion. If you browse through their site, you can already notice after you fill up the fields on the screen.

Yet what if I have a inadequate credit score rating The good thing is that you can change this particular but you will have to reduce your expenses so the money saved can be used to pay off your debt.

Sacrifice by you may mean only going shopping to buy the essentials such as food, clothes and gas.

You will have to forget about buying virtually any luxury items or even going to the spa for some time since these are just unnecessary expenses.

If you have a lot more than 2 credit cards, pay them off after which cancel them. A good idea will also be to go around with only one card in your wallet and also the other at home that may only be used for problems.

People who are in deep financial debt will probably must sell some belongings to prevent the debt from getting bigger because of interest.

If everything else fails, you should get assistance from a financial advisor to come up with an idea.

There are also a few businesses out there that can help enhance your credit score rating to what is known as debt relief or consolidation. This seems good in the short term but it does not make points any better.

When the bad debts have been paid, here is the only time you could breathe easy. You can give your credit score rating a boost by making use of for a new credit card by permitting one offered by food markets and groceries since they offer low interest rates to card holders.

By paying financial obligations on time, you will be able to determine a significant improvement inside the credit score rating this season compared to the year before which just demonstrates that with a little compromise and work, this problem can be overcome.

As for those with good credit report ratings, keep up the great work because paying for what you purchase and also borrow will allow you to do that again in the future without the problems.

Comments: 39

  1. Ardath June 5, 2013 at 8:49 am Reply

    Myself and my husband are going to apply for a mortgage soon. We both have decent credit score ratings and nothing negative on our reports. We owe about $1,500 on a $4,000 credit card and we have a car we are paying off, other then that we owe nothing and are in good standings with all our payements and they are never late. Will owning this money on the credit card stop us from being approved from getting a mortgage loan at all?

  2. Patsy June 25, 2013 at 9:25 pm Reply

    My husband and I filed bankruptcy Chapter7 in 2001 now we would like to buy our first home. Will this effect the loan we will get or has it been long enough?

  3. Danilo October 1, 2013 at 9:00 am Reply

    This was part of the e-mail I received:

    As part of our routine background check of all employees we require all applicants who have reached this stage to do a routine credit check to verify your details. This check is completely free to you and all details are absolutely confidential.

    Please Note: We cannot and will not use bad credit scores/ratings to deny your job application (your credit is not important to us) – this is simply to verify your past employment history.

    To get your credit report at no cost we suggest you use this provider:

    This was fishy enough already, but when I clicked on the link, Firefox came up with a warning:

    Is this a scam? It’s not like the job sounded like much of anything, or “too good to be true”. Should I stay away from this?

  4. Elizebeth December 6, 2013 at 10:31 pm Reply

    The report I got said PLUS: ALL bills paid ontime (no red marks) and do not have any negatives on my report
    and NEGATIVE: I am over half limit on one of my credit cards and my credit history is young (less than 4 yrs)
    I have a lot of school debit but other then that I do not and our house hold income is $72k(I’m not shy 🙂 ) with just me and Hubby (who doesn’t have good credit)

    I want to buy a car and get a new apartment next year around the same time. Do you think I will have trouble? I am moving and my rent now is $1400 a month, I am looking in the $800 a month range in Denver CO

    ANYWAYS, Is 695 good, fair, bad? I am not too sure what that number means!
    THANKS! 🙂

  5. Alessandra December 14, 2013 at 12:53 am Reply

    What impact does closing credit cards have on your credit score?
    I have a number of credits that I am not using. What impact if any would closing some of these accounts have on my credit score?

  6. Sidney January 2, 2014 at 5:13 pm Reply

    I have debt of 5000.00, and got behind, and now I am current on my debt but when I got behind on my debt it dropped by credit from 690 to 580. So, now i figured i would moving back home to pay off my debt, I have recently got a raise income thats significant. So i figured in the amount I was paying at my apartment and its utilities i can apply that allto my loan and pay it off in 2 months. Will this help my credit score?
    SO is paying off my debt so quickly going to hurt my credit?

  7. Renay January 9, 2014 at 10:56 am Reply

    I have recently paid off everything on my credit report. My credit score is slowly creeping up. I, like a lot of people, screwed up my credit when I was younger and am paying for it now. My Scores range from 579 – 618. Can someone give me some feedback please?

  8. Eugene January 9, 2014 at 11:34 am Reply

    In a temporary financial crunch and may have to make this decision, but want to keep my credit score as high as possible.

  9. Darwin January 11, 2014 at 11:24 am Reply

    I just want to make sure that if I do this I know what I am getting into.

  10. Ai January 13, 2014 at 12:01 pm Reply

    In english- what are some steps i could take to raise my credit score, ratings, and standings? What would you do and how would you start? All answer will be appreciated- “With knowledge comes power” thanks to all who participate.
    Ok, basically i am trying to rebuild my credit. I currently have no credit cards- just a debit/credit card. I have just 1 active account in collections but payments have been on time and consistent. I’m just trying to raise my standings faster, is it possible and how?

  11. Vilma January 14, 2014 at 6:09 am Reply

    I have 692 credit score
    only bout 20 months credit history (no lates)

    where can i get a high limit card?
    please only people who actually know

  12. Charlie January 14, 2014 at 11:34 am Reply

    In Oct.2008 I purchased a house and at that time my credit score was 720. And in Nov.2008 I leased a car and the dealer told me my score was 680.
    And the salesman told me that usually happens when you purchase a house but it will go back up in few months. Is this correct? So my score would be back to normal? Or even better by now?

  13. Quiana January 21, 2014 at 3:04 am Reply

    I’m trying to see if I use my Dillard’s card and I make all my payments on time will I be able to get an American Express cards directly from them?

  14. Elwood January 21, 2014 at 2:36 pm Reply

    do you know much money you need to pass a credit check to get an apartment? $10,000? $20,000? what about hotels? do they do credit checks too? Plz just tell me how much money is required to get an apartment or to qualiify and be able to rent an apartment. And do hotels do credit checks?

  15. Alfredo January 27, 2014 at 12:04 am Reply

    I guess what i am looking for is a scale. I know my credit score but i need to know how many points i am away from the next level.

  16. Kurt January 29, 2014 at 11:14 am Reply

    I scored a 791 out of 850 with Eqiufax in Feb. 2006

    I just scored an 888 out of 990 with Experian Oct 2007

    Do the 2 agencies have different rating systems or scales?

    Has my credit score improved from Feb. 2007?

    Experian said that I am “Prime” Plus and my Risk Grade is B. My Credit rating ranks higher than 85.15 of US Cosumers.

    Is this a good credit rating?

  17. Dakota February 2, 2014 at 8:33 am Reply

    Here is the news report for doubtful conservatives:|americantaxhavens|&par=yahoo

  18. Davis February 2, 2014 at 8:04 pm Reply

    This is a re-fi.

    I know you should not charge anything blah blah but I’ve got one more condition left (everything else is good to go). Need to purchase 1yr coverage of homeowner’s. Well I don’t want to touch my savings account since they 2nd checked the balance yesterday. The premium of the homeowner’s is $1200 and change. I had to charge it on my credit card.

    I honestly do not feel this will change my credit score or DI ratio but you just never know. I believe they will run a 2nd credit report the day before closing (although I have been told its doubtful) and wonder if this new balance will show up on my credit report. I asked the attorney and he said he doubts it because my closing date on the credit card is not until the 14th of the month and that is when they send the info to the bureaus. After that he said it normally takes 30 days at least for it to update. I don’t know if he is right.

    Should I be taking that money out of savings and paying for the homeowner’s? Its already charged so if I want to pay it off I should do it before the 14th just in case. The closing has not been set yet but everyone is pushing for the week of the 13th so…

    I honestly did not think its a big deal so just wondering what people thought.
    I just talked to the lender who explained this is not a big deal. They also explained that it would not even show for another month if they decide to run a 2nd chk. So Toni seems to be more accurate vs Iffy. The lender said the $1200 extra doesn’t change any ratio, etc…I told them I’d pay it off first of the year, they did not seem to care. I welcome more comments…

  19. Lee February 5, 2014 at 4:09 am Reply

    just wondering…

  20. Carlotta February 16, 2014 at 11:06 am Reply

    how can i boost my credit score i have had a few late payments on my credit file which are 12 months old now and i have 2 accounts that have been 7 months old and up to date every month. my % of your total credit being used is 0% with no money owed to any one.

    yet my score is still only 706 how can i give this a boost?

  21. Mollie February 19, 2014 at 2:45 am Reply

    I just received my credit report and am baffled.
    Equifax says 669, Experian says 683, TransUnion says 662.
    Can somebody please clarify what a ‘good’ credit score is, numerically speaking? In other words, is my credit good, bad, average, terrible?? How long does it take to improve credit scores? (Weeks? Months?)

  22. See February 19, 2014 at 6:30 pm Reply

    My husband has a 570 credit score and I have no credit score according to FICO but we both make great money. Can we get approved for a home loan? Neither of us have had any major purchases in over two years, and the major purchase we did have two years ago, we have paid on early every single month. We are desperately wanting a house, anyone know what I can do to get a good loan?

  23. Brian February 20, 2014 at 4:29 am Reply

    Is a 559 credit score good for an 18 year old? I just started too

  24. Darwin February 20, 2014 at 4:29 am Reply

    Does having cash available in checking/savings effect my credit score? Or is it better to take that cash and pay any debts?

  25. Stephen February 21, 2014 at 1:59 pm Reply

    Okay, I have a great credit score. My fiance has a poor credit score.

    What happens after we get married? Do we have a credit score together? Or separate? Or both? How does it all work?

  26. Ruth February 21, 2014 at 1:59 pm Reply

    My three credit scores have always been excellent, above 800. What would make Experian go down to 773, which is “Good” instead of excellent and at the same time Trans Union goes up from 803 to 811? Doesn’t make sense to me.

  27. Idalia February 21, 2014 at 3:28 pm Reply

    I am 21. My credit score 708. Is that good?

  28. Annice February 21, 2014 at 3:28 pm Reply

    I have credit cards that I use and immediately pay-off once it shows on my activity. Is this something I can do to improve my credit score? Or should I leave the balance on the Credit card until the statement date and then pay off in full?
    Can you please tell me if I have to pay off the balance once it shows up on my activity or leave the balance on the credit card until the statement cycle and then pay in full when I get the statement in the mail? Which way will I be able to improve my FICO score?

  29. Sarita February 21, 2014 at 8:41 pm Reply

    OK i might not make sense and i might misspell a lot of words so here i go….

    ok lets say i pay something that is $74 will my credit score go up higher as in getting fixed how does all that proses works?

  30. Idalia February 22, 2014 at 2:20 am Reply

    I ask this question out of curiosity, not as an attack on white people.
    For anyone who doesn’t think that white privilege exists, I suggest that you go to youtube and look up episodes of What Would You Do? with John Quiñones. You either have to be living under a rock or just plain in denial. Just watch this video:

  31. Ryan February 22, 2014 at 2:23 am Reply

    Is 630 a decent credit score?
    We are looking to consolidate our debt (hopefully). They said my score is 651 and my husband’s is 630… but we both have been bogged down with medical bills… everything else is being paid on every month, on time.
    Medical bills is what is making my score so low.

  32. Wilmer February 22, 2014 at 8:49 am Reply

    I checked on free credit report and it indicated it was 631. Is says it is fair ? Can i purchase a vehicle with that credit score?

  33. Will February 27, 2014 at 3:25 pm Reply

    what are the different credit score ranges for each risk level?
    i know it goes up to like 800, but what are the ranges for low risk, medium risk, medium-high risk, and high risk?

  34. Karie February 28, 2014 at 2:21 am Reply

    i want to see what my credir score is, but i don’t have a credit card at the moment, all the credit score places asks for a credit card number??? anybody have any websites where i can get a free credit report that doesn’t require a credit number!!! please help!!

  35. Signe March 2, 2014 at 11:50 pm Reply

    I don’t understand what credit score is..can someone explain in very simple terms? and what a good and bad credit score is? How do you get a good score or a bad one??

  36. Perry March 3, 2014 at 10:36 pm Reply

    Can you get a free credit score? If not, where would I be able to get my credit score for a good price? I prefer those with experience. Thanks.

  37. Les March 20, 2014 at 7:32 am Reply

    i want to know if i transfer a credit card balance to a 0% apr credit card, will it affect my credit score. my credit card bal. is 4,000.00

  38. Erasmo March 20, 2014 at 7:32 am Reply

    First :Im 19 And just got a credit card. When you first start building credit how high of a score do the start you off with.

    Second: I’ve paid off the credit card amount 4 times each time with a balance around $180. Each time I paid it was on time and paid in full. Keeping this trend going , how fast will my credit score rise ?

  39. Rocky March 26, 2014 at 10:15 am Reply

    my credit score is under 600, but I can’t get it to go up.
    i have tried getting a credit card for people with bad credit.
    i don’t’ have any current debts, and all the negative items on my credit report are really really old, like 1999 and 2002.
    how can i raise my score and get the bad stuff off my report?

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