How Your Credit Score Is Calculated

Credit Scores are determined by Credit scoring models that evaluate one of your consumer credit reports and then give a score (ranging from 300 to 850) based on complicated computations. A higher credit score indicates that the person is less likely to miss a payment, which is why having a higher credit score can help you qualify for better rates and terms from lenders. Elements that influence your credit score Payment History Amounts Owed Credit History Duration New Credit Payment History The most essential factor in determining your credit scores is your payment history, as it shows on your credit […]



What Is A Credit Bureau?

Credit Bureau A credit bureau is a company that collects and analyses personal credit information and sells it to creditors for a fee so that they can make loan decisions. They keep track of borrowers’ credit histories in order to generate credit reports and credit scores.  Credit bureaus look into the credit histories and habits of potential clients. Financial institutions, banks, credit card issuers, and even utility companies provide them with credit-related and non-credit data. What They Do With The Data Collected However, this data is purchased to assist in assessing a customers’ credit risk and decide whether or not[…]



How To Check Your Credit Score

It’s important to know your credit score, so as to know how much effort you would need to put in to either improve or maintain a credit-worthy Credit Score. In order to know your credit score simply follow the list of steps below: Using The Firstcentral Credit Bureau Website Simply visit the Firstcentral Credit Bureau website (www.firstcentralcreditbureau.com). Then click on “Get Free Credit Score” (you are entitled to a free credit score check once a month t&c applies). Fill out the form that appears and submit it, your credit score will be displayed to you in an instant. Using Email[…]