12

Nov

What Is A Good Credit Score?

A credit score of 700 or more is generally considered favorable for a score ranging from 300 to 850. A score of 800 or higher on the same scale is considered outstanding. The majority of people have credit scores ranging from 600 to 750. In the year 2020. Creditors may be more optimistic that you will return your future bills on time if you have a higher credit score. However, when reviewing consumers for loans and credit cards, creditors may define their own standards for what they regard to be good or negative credit ratings. This is partly determined by […]

29

Oct

Elements That Influence Your Credit Score

The items mentioned below are key to determining how well your credit score would be. Pay attention to them and you may just have a better credit score over time. 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 report. Within this category, the scoring models take into account: Timeliness Of Payments: A track record of paying your bills on time is beneficial to your credit score. Late payments: Payments that are more than 30 days late will usually[…]

30

Sep

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[…]