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Depends. The percentage,of credit used to the percentage not used is more important. Let's say you are using 71% of your available credit your score will be lower. The income ratio to debt is also used.
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∙ 11y ago
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What does a midyis score mean?
Apparently the mean score is 100, and the standard deviation is 15. This means that 67% of the population will score between 85 and 115. Higher scores are better. The company selling the midyis system will give, as well as scores, predictions of what the child should be able to achieve at GCSE level. Schools can then use this to a) track a child's progress compared with their theoretical capability predicted by the test, and b) to see if they have "added value" by raising the child to achieve more (or less) than predicted.
Under what circumstances would a score that is located 5 points above the mean be considered relatively close to the mean?
The answer depends on the underlying distribution and variability in the observations. For example, if the distribution is negatively skewed then 5 points above the mean is much more significant than 5 points below the mean. Next, looking at variablity: if almost all the scores are within -1 and +1 of the mean, then a score of 5 points above the mean is very significant but if the variance is 25, for example, then 5 points above the mean is one standard deviation from the mean: for a Normal distribution around a third of the observations would be further away - that is no big deal and so a score of mean+5 would be considered relatively close to the mean.
Why does the standard deviation get smaller as the individual in a group score more similarly on a test?
Because the standard deviation is a measure of the spread in scores. As individuals score more similarly, the spread gets smaller. Because the standard deviation is a measure of the spread in scores. As individuals score more similarly, the spread gets smaller. Because the standard deviation is a measure of the spread in scores. As individuals score more similarly, the spread gets smaller. Because the standard deviation is a measure of the spread in scores. As individuals score more similarly, the spread gets smaller.
What is the z score of 70.00?
There is insufficient information for us to answer this question. Please edit the question to include more context or relevant information. It would also be useful to develop the habit of checking your questions for completeness before posting them.Calculation of a z-score requires information on the mean and standard error of the variable for which the z-score is to be calculated.
What does it mean to say that years of experience in a profession and income are positively correlated?
This means that the more years of experience that a person has the higher his or her income is likely to be.
What is some basic info on finance banks?
A credit score is the credit bureaus overall evaluation of your credit history. The higher the score, the more likely you are to be eligable for loans and credit cards. A poor credit rating could mean that you are at risk of defaulting on a loan, which could lead to high interest rates and/or the refusal of a loan. A finance bank can assist you obtaining your score and seeing if you qualify for a loan.
What is typically a good fico score?
740 is what a lender typically considers a good score in the current economy. The higher the score the more higher chance to get lower APR percentage for a loan or credit card rates.
What credit score is perfect credit and what score is considered bad credit?
Credit score that is around or more than 700 is considered to be good and score below 500 is considered to be bad. It is always advised to constantly monitor your credit score.
Why is it important to pay your credit card bills on time every month?
when it takes you more than a month to pay off your credit card debt it makes your credit score higher
What is the minimum credit score required to obtain a credit card?
There is no real definitive answer to this question due to the fact that credit card companies can set their own qualifying standards. However, the majority of companies use the FICO credit score model when evaluating a person's creditworthiness. The parameters of the FICO range from 300 (lowest), up to 850 (highest) credit rating. Suffice to say, that the majority of people fall somewhere in the 600 and 700 range. Using this credit score rating (FICO), an applicant for a credit card would find it difficult if their score was 600 (more precisely, 580)or below. This does not mean that they might not qualify, however, the amount of interest they would be repaying on their credit card would be significantly higher than someone who has a higher FICO credit score.
What benefits can credit cards offer gives?
It helps your credit score, and has benefits. The more you use a credit card the more benefits and your credit rises. The better the credit score the more likely credit card companies will contact you.
Auto Loans and Interest Rates?
The interest rate you get with your auto loan depends on a few things. Your credit score, where you live, and the length of your loan all play a role in determining your interest rate. Of these, your credit score is the biggest factor. The difference between good credit and bad credit can mean thousands of dollars. Here is a look at the range of interest rates for auto loans. Assuming you take out a 48 month auto loan, you can expect an interest rate of between 4.9% and 18.7%. This is based off of national averages. People with a FICO score of about 720 can expect the 4.9% rate. If your credit score is between 690 and 720, your interest rate will be around 6.4%. If your credit score is in the middle of the 600's, you start to see higher interest rates. A credit score of 620 will give you an interest rate of 11.89%. A score less than that will mean an interest rate of 17% and higher. As you can see, a steep price is paid for having bad credit. Not only are your monthly payments higher, but you will pay more over the length of the loan.
How do I start to get credit to build a credit score?
To get credit to build a credit score, you must take a loan out on something such as a car or a house and then make payments. The more you are on time, the better your score will be.
Is your credit score?
Your credit score - is a numerical value based on your credit history. It takes into account such things as how much dbt you owe, if you've ever been late in paying bills, ever had court cases raised against you for defaulting on payment, or how many times you've moved. The higher your score - the more likely you are to be approved for loans, mortgages or credit cards.
What is your credit score?
Your credit score - is a numerical value based on your credit history. It takes into account such things as how much dbt you owe, if you've ever been late in paying bills, ever had court cases raised against you for defaulting on payment, or how many times you've moved. The higher your score - the more likely you are to be approved for loans, mortgages or credit cards.
How many credit card tradelines should one have?
It all depends on your goals and your current credit history. You typically want a mix of credit if you want a higher score, which in turn helps you get better cards with better terms and higher limits. A safe approximation to how many credit cards you should have depends on how long you've been using credit, so start with one or two, and build* until you have three or four lines (or more if you wish). Just remember to have a MIX of credit- your score can drop or stay low if you only have credit cards on your credit report... * in order to build and maintain a higher score, you need to exercise discretion and patience. Getting a high score doesn't happen overnight...
Do you have to have good credit to get collector car insurance?
A good credit score helps with the purchase of insurance because good bill payment is a sign of responsibility and lowers your risk to the insurance company. You may still be able to get insurance for your car, even with a low credit score. Call up your local insurance office.
