What is a Credit Score Range? - 0 views

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  #1 Christian Beasley on 26 Feb 12

   

  credit score range, what is a good credit score, credit score rangeThe term credit score is mostly used in the credit and finance industries. Credit Score Range
  
  The three authorized credit bureaus, Equifax, Experian, and TransUnion, provides for a person or company's credit score. They use the software program that was developed by the Fair Isaac Corporation or the FICO in order to find out the score of an individual that is usually based on reports that are made available in their central database. Much reliability is spent on their own credit history or on the credit report of the individual which can differ from the credit reports of the other bureaus. The result is, the resulting scores given by these three bureaus might have slight differences from each other. However, mere knowledge of a credit score is not enough to determine the creditworthiness of a person. The range should be determined in order for the proper assignment of the appropriate credit rating to the person. FICO scores are within the range of 300 to 850 with a credit rating that ranges from excellent to poor.
  
  An Excellent Credit Score
  
  This is a score that is above 750. Once you have attained this, getting a credit rating will be easy, and the chances of earning low interest rates becomes possible. This is because people with excellent scores are considered as having no risk or having minimum risk to the creditor, thus resulting in the availment of better deals and services.
  
  How to Get an Excellent Credit Score
  
  People who already have an excellent score should make it a point to maintain their rating, especially if within or near the borderline. A simple slip from 760 to 749 makes a big difference and may cause a change in your score. There are also instances when a small one point dip may not also significantly affect your credit prospects. However, one single point plays a very important role in deciding the interest rates that will be given to you.
  
  A Good Credit Score
  
  This is a score that falls within the range of 720 to 749. There are times when creditors consider scores in the range of 660 to 719 as good. However, people with a score of 650 but below 720 might struggle a little bit in order to get the best deals as compared to those with excellent scores.
  
  How to Get A Good Credit Score
  
  Keep utilization rate low. Aim for credit cards that have high credit limits, and avoid the urge to keep on spending. Pay your bills on time. Try to minimize your debts and avoid unnecessary credits. Limit credit cards to only two or three.
  
  Your credit score is one of the most important parts of your financial situation. Poor credit can ruin you financially while good credit can do wonders to help you out. When putting together your credit scores range the three main credit bureaus put a lot of things into consideration. They look at you past payment history, credit history, job, income and so many other things. Each category takes a different level of importance depending on the lender. Knowing more about how your credit score is put together can help you to either prevent credit damage or help you know how to fix what you are doing wrong.
  
  

   

  <div class="cArrow"> </div><div class="cContentInner"><a rel="nofollow" href="http://guadaluperob716819.webs.com/apps/blog/show/12685551-know-about-your-credit-score-range">credit score range</a>, <a rel="nofollow" href="http://alexandercur1012.getshopped.com/2012/02/26/credit-score-range-2/">what is a good credit score</a>, <a rel="nofollow" href="http://community.atom.com/Post/Credit-Score-Range--Get-the-Facts/03EFBFFFF025BCF5F0008018CC61D">credit score range</a>The term credit score is mostly used in the credit and finance industries. Credit Score Range<br /><br />The three authorized credit bureaus, Equifax, Experian, and TransUnion, provides for a person or company's credit score. They use the software program that was developed by the Fair Isaac Corporation or the FICO in order to find out the score of an individual that is usually based on reports that are made available in their central database. Much reliability is spent on their own credit history or on the credit report of the individual which can differ from the credit reports of the other bureaus. The result is, the resulting scores given by these three bureaus might have slight differences from each other. However, mere knowledge of a credit score is not enough to determine the creditworthiness of a person. The range should be determined in order for the proper assignment of the appropriate credit rating to the person. FICO scores are within the range of 300 to 850 with a credit rating that ranges from excellent to poor.<br /><br />An Excellent Credit Score<br /><br />This is a score that is above 750. Once you have attained this, getting a credit rating will be easy, and the chances of earning low interest rates becomes possible. This is because people with excellent scores are considered as having no risk or having minimum risk to the creditor, thus resulting in the availment of better deals and services.<br /><br />How to Get an Excellent Credit Score<br /><br />People who already have an excellent score should make it a point to maintain their rating, especially if within or near the borderline. A simple slip from 760 to 749 makes a big difference and may cause a change in your score. There are also instances when a small one point dip may not also significantly affect your credit prospects. However, one single point plays a very important role in deciding the interest rates that will be given to you.<br /><br />A Good Credit Score<br /><br />This is a score that falls within the range of 720 to 749. There are times when creditors consider scores in the range of 660 to 719 as good. However, people with a score of 650 but below 720 might struggle a little bit in order to get the best deals as compared to those with excellent scores.<br /><br />How to Get A Good Credit Score<br /><br />Keep utilization rate low. Aim for credit cards that have high credit limits, and avoid the urge to keep on spending. Pay your bills on time. Try to minimize your debts and avoid unnecessary credits. Limit credit cards to only two or three.<br /> <br />Your credit score is one of the most important parts of your financial situation. Poor credit can ruin you financially while good credit can do wonders to help you out. When putting together your credit scores range the three main credit bureaus put a lot of things into consideration. They look at you past payment history, credit history, job, income and so many other things. Each category takes a different level of importance depending on the lender. Knowing more about how your credit score is put together can help you to either prevent credit damage or help you know how to fix what you are doing wrong.<br /><br /></div>

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