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Whether you have a bad credit score by elesabeth iol
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Whether you have a bad credit score by ELESABETH IOL
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| Article Posted: 11/06/2013 |
| Article Views: 536 |
| Articles Written: 1 |
| Word Count: 458 |
| Article Votes: 0 |
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Whether you have a bad credit score |
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Business,E-Commerce,Marketing
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A credit score is a three digit number based on your credit report. It gives a good picture of your creditworthiness. An excellent credit rating makes you qualified for lower interest rates . You 're not as much a risk to lenders . A bad credit , on the other hand, means that you will have to pay higher interest rates. This means that you have had some problems in your past and your credit history shows . Lenders will think you are a risk. A credit score ranges from 300 to 850. You can go to any credit bureau and purchase your credit score. Check to see where it falls and whether you need to increase your score. Here is a breakdown of the scores and what they mean : Your score is 700 to 850. This is an excellent score. At this point the lender will give you the best rates on mortgages. Not only that you will be favored by the banks, but you get major credit cards with very low interest rates. Have excellent credit you earn for consumer loans , insurance and employment . Your score is 680 to 699. This is a good score. If your credit score falls to this level, you will still get normal loans lenders. At this level, you will always receive favorable terms from financial institutions. Your score is 620 to 679. This score is quite acceptable. In this range you will land the loan approval, but on a higher interest rate . If you fall below this level , it is worth considering how to improve your credit score . You need to look into your credit report and see where you have to work . The repayment of your debts and control your use of credit card can increase your credit score. Your score is 580-619 . It is a low score . You are on the brink of having a bad score. At this level, you have to struggle with very high interest rates. You can ask about this approval, but the money lenders terms. Your credit is 500 to 580. This is a bad score. At this level you do not like the terms that the money lenders will give you . You may consider repairing your bad credit . Below 499 . This is a very bad score. But do not despair , the ad credit can be repaired. As you can see, a bad credit score is really something under 620 . If your score is below 620 , do not despair. You can remedy this by taking care to clean any discrepancies on your report, your debt and pay all your bills on time.
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