Here is the informaiton you seek regardng credit scores:Payment information on many types of accounts. These include credit cards (such as Visa, MasterCard, American Express and Discover), retail accounts (credit from stores where you do business, such as department store or gas station credit cards), installment loans (loans where you make regular payments, such as car loans), finance company accounts and mortgage loans. Public record and collection items. These include reports of events such as bankruptcies, judgments, suits, liens, wage attachments and collection items. These are considered quite serious, although older items count less than more recent ones. Details on late or missed payments and public record and collection items. A 30-day late payment is not as risky as a 90-day late payment, in and of itself. But recently and frequency count too. A 30-day late payment made just a month ago will count more than a 90-day late payment from five years ago. Note that closing an account on which you had previously missed a payment does not make the late payment disappear from your credit report. How many accounts show no late payments? A good track record on most of your credit accounts will increase your credit score.
2. Amounts Owed (30% of score).Owing money on different credit accounts does not mean you're a high-risk borrower with a low score. However, owing a great deal of money on many accounts can indicate that a person is overextended, and is more likely to make some payments late or not at all. Part of the science of scoring is determining how much is too much for a given credit profile. This factor takes into account: The amount owed on all accounts. Even if you pay your credit cards in full every month, your credit report may show a balance on those cards. The total balance on your last statement is generally the amount that will show in your credit report. The amount owed on all accounts, and on different types of accounts. In addition to the overall amount you owe, the score considers the amount you owe on specific types of accounts, such as credit cards and installment loans. Whether you are showing a balance on certain types of accounts. In some cases, having a very small balance without missing a payment shows that you have managed credit responsibly, and may be slightly better than no balance at all. On the other hand, closing unused credit accounts that show zero balances and that are in good standing will not generally raise your score. How many accounts have balances? A large number can indicate higher risk of over-extension. How much of the total credit line is being used on credit cards and other "revolving credit" accounts. Someone closer to "maxing out" on many credit cards may have trouble making payments in the future. How much of installment loan accounts are still owed, compared with the original loan amounts. For example, if you borrowed 3,000 to buy a car and you have paid back 3,000, you owe (with interest) more than 80% of the original loan. Paying down installment loans is a good sign that you are able and willing to manage and repay debt.
3. Length of Credit History (15% of score). In general, a longer credit history will increase your score. However, even people with short credit histories may get high scores, depending on how the rest of the credit report looks. This factor takes into account: * How long your credit accounts have been established, in general. The score considers both the age of your oldest account and an average age of all your accounts. * How long specific credit accounts have been established. * How long it has been since you used certain accounts.
4. New Credit (10% of score). Research shows that opening several credit accounts in a short period of time represents greater risk, especially for people who do not have a long-established credit history. This also extends to requests for credit, as indicated by "inquiries" to the credit reporting agencies (an inquiry is a request by a lender to get a copy of your credit report). This factor takes into account: How long it has been since you opened a new account. How many new accounts you have. How many recent requests for credit you have made, as indicated by inquiries to the credit reporting agencies. Be assured, however, that if you request a copy of your credit report to check it for accuracy - which is always a good idea - it will not affect your score. This is considered a "consumer-initiated inquiry," not an indication that you are seeking new credit. Also, your score is unaffected by lender inquiries into your credit report for purposes of making you a "pre-approved" credit offer, or for reviewing your account with them, even though these inquiries may show up on your credit report. Length of time since credit report inquiries were made by lenders. Record of recent credit history following past payment problems. Re-establishing credit and making payments on time after a period of late payment behavior will help to raise a score over time.
5. Types of Credit in Use (10% of score). This factor considers your mix of credit types: credit cards, retail accounts, installment loans, finance company accounts and mortgage loans. It also looks at the total number of accounts you have; for different credit profiles, how many is too many will vary. This means it is not necessary to have one of each type, nor is it a good idea to open credit accounts you don't intend to use. The credit mix is generally not a key factor in determining your score - unless your credit report does not have a lot of other information upon which to base a score.
Why Do Credit Scores Vary? The major credit reporting agencies - Experian, Equifax and Trans Union - consider only the data in your credit report at that particular agency. Since different lenders report to different agencies, one firm may generate a different score than another one. Below is a way of interpreting your credit score. Given the current credit score stats, how does this relate to your own personal score? Generally, if your score is higher than 660, you will be considered a good credit risk. If your score is below 620, then you might have a tougher time getting a loan. The following ratings explain the impact of the different score ranges: * 720-850 - Excellent- This represents the best score range and best financing terms. * 700-719 - Very Good - Qualifies a person for favorable financing. * 675-699 - Average - A score in this range will usually qualify for most loans. * 620-674 - Sub-prime - May still qualify, but will pay higher interest. * 560-619 - Risky - Will have trouble obtaining a loan. * 500-559 - Very Risky - Need to work on improving your rating.
The three credit score companies.
A triple credit report shows your credit score from all three credit reporting agencies: Experian, TransUnion, and Equifax.
9002 is not a valid score. A credit score would be a three digit number.
you will get a low credit score. you can always check your credit score on three credit reporting agencies
You can get your true credit score from any of the three credit companies, Equifax, Transunion and Experian. Any of these three will give you a free credit score once a year. You're entitled by law to it.
Credit scores are obtained directly from Equifax's website. Equifax offers a three in one product for this, combining a credit report with a credit score and a FICO score.
there are three reporting agencies and this allows you to get your credit score from all three. it also allows you to check for inaccuracies your score.
There are three main credit bureaus to contact for you credit score. This would be Esperian, Transunion, and Equifax. All three will give you a most rounded average to use on any credit application or proposal, granted that it is a decent score.
It's nearly impossible to have a credit score that low. I'd check with the credit bureaus and pay to see your credit score from one of the big three -- Equifax, Transunion or Experian.
it doesnt it just stays the same hah ha . Carrollton has the best credit score in the world it comes from the high schools football team from the carwash
When you have all three credit scores pulled, most creditors look at the middle score. If you have onloy two credit scores pulled, they will use the lowest one.
Equifax is one of the major three credit bureaus. According to their rating system, a good credit score is between 725 and 759.
No Fico is not the only credit score company. There are three major credit companies as well as Fico. Experian, Equifax and Trans-Union. Each one will give you a different credit score as well
One can get their credit rating for free from three credit reporting companies. Equifax, TransUnion and Experian will all be able to provide one with their credit score.
You can get a free annual credit report online once a year (from three credit providers) at the website www.annualcreditreport.com. This does not provide your credit score, however.
There are many websites online that allow someone to check their credit score: freecreditreport.com is one of them. One free credit is allowed annually; otherwise, one of the three credit bureaus must be contacted (Equifax's ScorePower, Experian's PLUS score, and TransUnion's credit score). Another option is to purchase the score from FICO.
You can go to www.annualcreditreport.com to get your free credit reports from the three top credit reporting agencies every year. You can then pay about $8 to get your score from FICO.
There are no "local" credit bureaus but to check your score through one of the three major credit bureaus use the internet to search for free quotes. Also if you already have some identity theft insurance or coverage they often offer a once a year free credit score report.
Auto insurers take a credit score provided by one of the three (3) credit bureaus and then they add characteristics that would not be present on your credit score to come up with an internal score. The auto insurer does not need to tell you what your credit score was, however, they do need to let you know which credit report (and associated score) was used to arrive at their decision. There are a number of service provides that provide access to your credit score. A few of these service providers are represented in the related links section.
You have three credit scores you need to take into consideration to get your average "true score". You can request a free credit report online to get instant access to your information.
There are three credit bureaus in the United States which are required to give one a free credit score once a year or anytime there is a major change in one's credit. They are Experian, Transunion and Equifax. There is also a site called CreditKarma that provides a credit score at no charge.
Equifax is on of the three major credit reporting agencies. An Equifax Credit Report is beneficial for obtaining your credit score. Knowing your credit score may determine whether your are eligible for credit cards, loans, and grants.
Free triple score, creditreport, annual credit report will provide the credit reports that are needed, and will also give the consumer a score so they can evaluate where they stand.
The government has provided a website for you to check your credit score for free. You can check your score with the three major credit bureaus once a year without signing up for a subscription. Reference https://www.annualcreditreport.com/cra/index.jsp
Here's a couple ways... By law, each of the three major credit reporting agencies have to give you one free credit report (in addition to other opportunities you have to look at your report when you are denied credit based on reports for any of the three) The three agencies are Equifax, TransUnion and Experian. The place to get the free credit reports is listed in the related links below. These reports do NOT include your credit score but, for a nominal fee you can have your score included. I think the last time I got my score in this manner the fee was six dollars. There are other ways to track your credit score. Some banks such has Washington Mutual offer credit cards which include availability to your TransUnioin credit score anytime as an extra perk of the card. Also, the higher end Microsoft Money software packages include a year of free credit score monitoring, I think there's was from Experian and you could get that score anytime you wanted.