Your credit score is calculated based on the information in your credit report. Credit scores allow lenders to quickly make on-the-spot credit decisions based on a 3-digit number that sums up your credit worthiness. There are many credit scoring models in use today; all are designed to rate your likelihood to repay your debts. When you order your credit score, you will also receive an analysis of the factors affecting your score.
Your credit report is a snapshot of your credit at a particular moment in time. However, in reality that information is flowing in and out of your credit report all the time. Credit applications, home and auto loans, payments, an address change or even an inquiry from a prospective creditor all show up on your credit report - and affect your credit score.
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Credit history is the main determining factor of credit nowadays, but there are potential problems that can work against consumers. Since some credit reports can contain inaccuracies serious enough to cause consumers to be denied credit, a loan or even a job, keeping abreast of changes to your credit file is vitally important.
1 800 number for equifax
1 800 Number For Equifax Copyright 2009 - 2011
1 800 Number For Equifax
1 800 number for equifax Today, many consumers do not understand the importance of credit ratings and how it affects their daily lives. Some are not aware that credit scores exist, or that credit scores are readily available and accessible online. 1 800 number for equifax 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. 1 800 number for equifax There are many tips and hints available for fixing credit score problems. Unfortunately, if you aren't quite sure what you're doing, you could potentially make your issues worse instead of better.