Why Your Credit Score is Important
Your credit score can either haunt you or reward you. It all depends on how you handle your credit and payment activities. Your credit score determines what interest rates you will pay and if you are even approved for a loan or a credit card at all. In addition, your credit score can play a factor in renting your next apartment or getting hired from a potential employer.
Your credit score is compiled from the information on your credit report. The performance of your credit activity is rated on a numerical scale from 350-850. This number is your credit score. The higher your credit score, the better. Late payments, delinquent accounts and maxed out credit limits are all things that can lower your score. Below is a general guideline to determine what your credit score means in terms of getting approved for a loan or receiving credit and what type of interest rates you can expect to pay.
750-850: Is considered to be an excellent credit score. You can expect approval and should receive a great interest rate.
680-749: Is considered to be a good credit score. Generally you should be approved and given a favorable interest rate. 620-679: Is considered to be a middle of the road score. You will more than likely be approved but you may have to pay a higher interest rate.
550-619: Is considered to be a low credit score. You can find lenders who will approve people with poor credit scores but they will probably charge very high interest rates and fees.
300-549: Is considered to be a very bad score. It will be a challenge to find a lender that will offer you credit at all.
Do you know what your credit score is? Having this information can save you the time and hassle of trying to get approved for loans that you may not even be eligible for. There are many reputable companies like http://www.credit-report-credit-score.com that can provide you with your credit score for free.
If your credit score is lower than you need it to be, there are many ways to get your score up. It will take some time and diligence but it can happen. There are credit repair companies available to help get your credit situation back into shape. But there are also actions you can take on your own to improve your credit score.
First, you have to be sure to make all of your future payments on time. Late payments can be very detrimental to your credit score. Secondly, you should try to stop charging if you have a lot of credit card debt. If you do have a lot of credit card debt, you should try to pay the balances down as much as possible. Do not attempt to obtain new credit and do not fill out excessive amounts of loan applications. New accounts and numerous credit application inquires can be a hazard to your score.
If you currently have a good credit score, then make sure you keep it! If you are beginning to have financial trouble and your monthly payments are becoming a challenge, try at all costs to avoid defaulting on any of your loans, especially your mortgage. Taking out a debt consolidation loan is an option that can help ease your monthly payment obligations and keep you from ruining your credit score.
With all of this said, you can see why your credit score is one very important little number.
-------------------------
Note: This article may be freely reproduced as long as the authors bio paragraph at the bottom of this article is included, the article is published "as is" (unedited) and all URL's are made active hyperlinks with no syntax changes.
-------------------------
This article was written by Beth Pardue who has over 10 years of experience in the financial industry assisting clients with assorted financial needs. To learn more about credit reports or to get a free credit report online please visit: http://www.credit-report-credit-score.com
 Google News Updated : Sun, 07 Sep 2008 02:07:34 GMT Report: Samsung working to acquire SanDisk - San Jose Mercury News San Jose Mercury News - AP Samsung was reported Friday to be considering buying Milpitas-based SanDisk, whose revenue has diminished and stock has plummeted in recent months due to the saturated flash-memory market. SanDisk Shares Soar on Samsung Interest SanDisk Shares Surge as Samsung Considers Acquisition (Update3) Publ.Date : Sat, 06 Sep 2008 16:19:13 GMT Gates outacts Seinfeld in Back To The Future - CNET News
CNET News - Which is why Crispin Porter Bogusky, the agency responsible for the otherworldly new Microsoft TV spot featuring the clowning Bill Gates and Jerry Seinfeld, is already happy. Microsoft's Renewed Vista Strategy You Thought Vista Was Bad? Publ.Date : Sun, 07 Sep 2008 00:01:52 GMT Dodgers overtake first place - MLB.com
MLB.com - By Michael Schwartz / MLB.com LOS ANGELES -- Manny Ramirez's five RBIs propelled the Dodgers into first place in the National League West for only the second day all season Saturday after a 7-2 win over the D-backs at Dodger Stadium. Ramirez, Billingsley lead streaking Dodgers into first place Dodgers move into first place Publ.Date : Sat, 06 Sep 2008 23:14:26 GMT European space probe completes asteroid fly by - Reuters
Reuters - BERLIN (Reuters) - The European Space Agency obtained on Saturday the first images of an asteroid 360 million km (224 million miles) from earth, part of a space mission which scientists hope will help them understand the origins of the planets. Rosetta spacecraft takes asteroid photos Spacecraft flies by remote asteroid, camera stops Publ.Date : Sat, 06 Sep 2008 14:13:31 GMT Movies opening this week - San Jose Mercury News
San Jose Mercury News - By Mercury News "Burn After Reading" (R): The Coen brothers follow "No Country for Old Men" with a dark comedy about two inept gym employees who get hold of a CD-ROM containing a CIA operative's memoirs. Toronto Review: The Coen Brother's Burn After Reading Pitt Rocks to Madonna Publ.Date : Sat, 06 Sep 2008 20:56:32 GMT Palin and McCain’s Shotgun Marriage - New York Times
New York Times - By FRANK RICH SARAH PALIN makes John McCain look even older than he is. And he seemed more than willing to play that part on Thursday night. An Apostle of Alaska 'Sarah Palin Is Wasilla': Town Stands Behind VP Pick Publ.Date : Sun, 07 Sep 2008 01:18:29 GMT Jenkins: Murray willing to play the spoiler - San Francisco Chronicle
San Francisco Chronicle - (09-06) 18:24 PDT New York -- Andy Murray must feel very alone just now. He's a long way from his native Scotland. He's carrying the hopes of British tennis, but the London press would really prefer him to be English. Federer beats Djokovic to reach US Open final Split stadiums for US Open semis ruffles crowd Publ.Date : Sun, 07 Sep 2008 01:44:27 GMT Work From Home |
PARLOT::Ebooks, Scripts,
Websites, and more... Credit has become a much-used word, thanks to the various... Read More It is estimated that billions of dollars in delinquent commercial... Read More There is a lot of confusion surrounding UK credit ratings,... Read More Credit score is the key factor determining approval of almost... Read More Even if you have heard of a credit report, you... Read More Clean Credit Reports, your credit report contains information about where... Read More Have you ever been told you were over your credit... Read More The first time I heard the term credit history was... Read More Article excerpted from the new book, "How to Do Space... Read More Whether you are aware of it or not, credit bureaus... Read More A good credit reward card can contribute to your retirement... Read More When you apply for a loan or a mortgage, the... Read More It is important to know your credit rating for a... Read More I've got some very important info I want you to... Read More Anywhere you go online nowadays, you will see a multitude... Read More Joint debts remain joint debts.Both spouses signed a legally binding... Read More If you're a college student, you probably already have a... Read More Using a credit card wisely is an important step in... Read More Legislators in Washington, D.C. are considering several credit-related consumer protections... Read More No doubt, you've probably gotten literally hundreds of credit card... Read More Credit 101How does a creditor determine whether to grant you... Read More If you intend to apply for a loan, you need... Read More To repair your bad credit does not necessarily mean that... Read More When you're dealing with credit cards, you're playing with fire.... Read More You can stop receiving credit card offers in the mail!... Read More
Adsense
websites
A Cure for an Ailing Credit
Commercial Collections And Credit Granting
Your Credit Rating and How To Check It
Myths and Truth about Credit Scoring
What Is A Credit Report?
Clean Credit Report: Easily Raise Your Credit Score 100 points
What is Credit Card and Debit Card Blocking?
Tackling Bad Credit
Avoiding ID Theft and Credit Fraud
Big Brother Knows Whats in Your Credit Report - How About You?
Reward Credit Cards: Get the Best Rewards Card Incentive Program
What Does Your Credit Score Tell You?
Do You Know Whats On Your Credit Report ?
Credit Report Disaster Through Mistaken Identity
Finding and Applying for the Right Credit Card Offer Online
Important Things to Know About Divorce and Credit
Student Credit Cards 101
How To Use Your Credit Card For Ultimate Financial Advantage
Legislators Ponder New Credit Protection Laws
My Credit Card Application Was Rejected! Now What?!?
How Does a Creditor Determine Whether to Grant You Credit?
Getting Your Credit Report and Understanding Whats On It
To Repair Credit Is No longer Satisfactory - Learn How To Earn A Millionaires Credit In 30 Days...
Do You Know The Top Five Credit Card Mistakes?
Stop Credit Card Offers
Affordable and Reliable Web Hosting Starting at $4.49/Month
Credit Counseling: Could it Work for Me?
In the face of financial hardship, many seeking a responsible... Read More
Why Is It important!
Your credit is the most important thing you have other... Read More
Debt Collection Agencies
Debt collection agencies are often a viable option for receiving... Read More
Repair Your Credit - The Right Way!
How to Repair a Bad Credit Rating?The Right Way!If you... Read More
Your Consumer Rights
If you have ever fallen behind on your debts you... Read More
Rewards Cards: Are They Worth It?
Virtually all consumers will have a credit card at some... Read More
Credit Card Security Advice
Which of the following is the biggest threat to your... Read More
10 Ways To Protect Your Financial Identity Being Used For Someone Else?s Shopping Spree
Someone impersonating you could be spending your hard-earned money.Impossible! Not... Read More
How To Prevent Fraudulent Credit Card Transactions
What Are Possible Signs of Fraudulent Transactions see at Web... Read More
Understanding Your Rights Under The Equal Credit Opportunity Act
It wasn't all that long ago that lenders blatantly discriminated... Read More
Credit Help For Renters And Others On The Horizon
Sue is a homeowner and pays her mortgage and other... Read More
Credit Cards - A Blessing or a Curse?
Owning a credit card can be quite an advantage. Whether... Read More
Credit Card Balance Transfers Explained
What is a balance transfer ? A balance transfer can... Read More
SuperCharged Secret 5, Credit Card Utopia
LIVING IN CREDIT CARD UTOPIALet's just take a brief moment... Read More
Understanding Credit Card Penalties
Because most of us have one or two credit cards... Read More
Dont Fall For A Scheme When Trying To Rebuild Your Credit History
For people with a spotty credit history or bad credit,... Read More
Free Credit Reports - How to Maintain Your Credit Profile
Maintaining your Credit ProfileEvery consumer should be maintaining their credit... Read More
Free Credit Reports Now Available From the FTC
The Federal Trade Commission (FTC) has set up a new... Read More
Do You Know The Top Five Credit Card Mistakes?
When you're dealing with credit cards, you're playing with fire.... Read More
How Can A Qualified Mortgage Consultant Help Boost Your Credit Scores?
Consumers interested in purchasing or refinancing a home will pay... Read More
Credit Education
Having credit education is like knowing how to read. It... Read More
Student Credit Cards 101
If you're a college student, you probably already have a... Read More
Credit Cards And Loans - So Many Options - So Little Time
Credit Cards and Loans sounds like just two things, but... Read More
How a Credit Card Can Be Your Friend
We have all heard countless stories of people over their... Read More
Read and Understand Your Credit Card Statement
Have you ever looked at your credit card statement and... Read More
Credit |