by LeRoy
What is the credit score scale and how do you know whether you have a good or bad credit rating? Well, the credit score scale may seem dark and mysterious, but it really isn’t all that complicated. Here is what you need to know about your credit score and the credit score scale.
The credit score scale ranges from three hundred (300) to eight hundred and fifty (850). That means that if you are alive and there are records of you, there is no way you can have a credit score less than 300. If you have only a little bit of debt, you have had it for a long time (many years), and you have never missed a payment or been late with a payment, and you have an income, you might just have the perfect score of 850. Of course, very few people have either the lowest or the highest possible score; just about everyone falls somewhere between the two extremes.
If you want to fall at the very top level of the credit score scale, you should shoot for a rating of at least 720. At one time in the not too distant past, you may have been considered at the top of the game is your score was above 680, but no more. Just about every lender gives the best terms and interest rates only to those whose credit score falls above 720 on the scale.
Read the rest of this article »
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
by LeRoy
Most people with a damaged credit report end up that way after experiencing a financial difficulty. Having damaged credit makes it difficult to get new credit.
Do you realize there are things you can do for damaged credit repair and make this easier?
The use of a Secured Credit Card is one way.
A secured credit card works like a regular credit card in that it reports to the credit bureaus. Your credit report will not show a difference between a regular credit card and on that is a secured card
Read the rest of this article »
by LeRoy
Learn the secrets the credit bureaus don’t want you to find out.
A bad credit score can affect so many different areas of a person’s life, and makes life far more difficult than if you had a good credit score. A bad credit score can lock you out of the best loans, best credit cards, best apartments, houses, and even jobs. Because of this, repairing a bad credit report is extremely important and should be taken on with all the strength and gusto that can be mustered.
The problem is that there is a lot of conflicting information out there about how to Repair your credit score, and some of this information is just flat out wrong. Then you have the thousands of guys who want your money before offering any information at all, and outright scammers on top of that. The good news is that while there is no guarantee that every person in the world can upgrade their credit score ‘X’ number of points in ‘X’ amount of days, for most consumers with bad credit in the low to mid 500s or even worse, there are definite ways you can repair your damaged credit score quickly, and 120 points or more isn’t out of the question.
Step #1: Stabilize!
Read the rest of this article »
Tags: 
