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How your FICO score is determined is a will kept secret- but the main factors are how long you have had credit, the % of each credit line you have used, and late payments

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โˆ™ 2007-07-06 03:18:19
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Q: Where do you get help for financial institutions to understand what determines a credit score?
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Related questions

What are the functons of the credit union?

What is functions financial institutions

How is Whatcom Educational Credit Union different from other financial institutions?

Whatcom Educational Credit Union has a few differences from other financial institutions. The main difference is that Whatcom Educational Credit Union is a nonprofit organization.

What is a company that provides credit financial services?

Credit financial services are available from many different companies. Visa and MasterCard offer credit card services through various financial institutions.

Where can one compare the best credit cards?

The websites of individual financial institutions often have a tool for comparing features of their own credit card offerings. The Financial Consumer Agency Of Canada has an online interactive tool to help you compare features across financial institutions.

What are the functions of financial institutions?

Financial institutions have several functions within the economic system. They provide loans and credit to individuals and businesses. They also provide savings and investment tools.

What is the role of financial institutions in carrying out international business transactions?

Giving credit for Exporting companies. Checking the financial stability of Importer. Letter of Credit issuing and processing.

Which financial institutions offer full banking services to individuals and businesses?

credit unions

Which type of financial institutions are owned and controlled by the people who use their services?

Credit Unions

Why do some financial institutions consider the current month to calculate the credit score?

Financial institutions do not calculate your credit score..Credit scores are calculated by credit bureaus..It's kind of like a horse race..You would bet on the horse, based on its last race..Not some race 6 months ago..Credit scores can change monthly.

What is the role of the major non depository financial institutions in the financial system?

Non-depository financial institutions play a major role in providing financial services and credit to both individuals and businesses. Non-depository institutions frequently compete with banks in offering financial services and credit but also offer services that would not be appropriate for banks. For example, insurance companies take on risks related to a wide variety of losses which would not be suitable for banks. Non-depository institutions can provide a safety cushion during difficult financial times by offering credit when banks may not be willing or able to lend.

What are examples of financial institutions?

Financial institutions are basically any kind of facilities (does not matter if it is big or small) that provide financial services. Here are some examples:bankspayday lending companiescredit unionsmortgage lenders

What are low cost financial institutions open only to workers of the group that sponsor them?

crEdiT uNiOns

What financial institutions sometimes call their checking accounts share draft accounts?

credit unions

Which of these financial institutions sometimes call their checking accounts share draft accounts?

credit unions

How do credit unions differ from banks?

Large banks are for-profit financial institutions whereas a credit union is usually a non-profit financial institution that operates solely on the assets of its members.

What are five financial institutions?

The five financial institutions are:Commercial BanksSavings and Loans AssociationsSavings BanksCredit UnionsFinance CompaniesIf anyone knows the function of these, please add to this question.

How are financial institutions classified?

Financial institutions are classified by the services they provide. They fall into two main groups: depository and non-depository institutions. Different types of financial institutions include commercial banks, credit unions, mutual savings banks, savings and loans, insurance companies, pension funds, finance companies, and mutual funds.

Which financial institutions offer credit cards for students?

Some institutions that offer credit cards for students include Discover, Citi, Journey, and American Express. For more information, as well as the ability to apply for the listed credit cards, you can visit the Credit Cards website.

How does diversification affect financial institions credit risk exposure?

Generally, diversification helps reduce the overall credit risk exposure for financial institutions by reducing their overall expected chargeoff rates.

What are low-cost financial institutions open only to workers of the group that sponsor them?

Credit unions

What is an alternative to credit cards that banks and other financial institutions have recently been promoting?

debit cards

What are four types of financial institutions?

Commercial banks Savings and loan associations (S&L's) Credit Unions Brokerage Firms Additionally, central banks should be added to the types of financial institutions. Along with these are international institutions such as the IMF and the World Bank

Why consumers should be concerned if there credit rating falls?

Credit ratings determine both the interest rate and rather financial institutions will loan you money

What does your credit score need to be to build a home?

Most financial institutions look for credit scores in the 700s. You can get financed with lower credit scores, but you will pay more in interest rates.

What are types of financial institutions?

Banks, credit unions, government budget committees, taxes, insurance, trade pacts