Company
Score Type
Score Range
FICO Fair Isaac Co.
FICO Score*
300-850
Equifax
ScorePower Score
300-850
Experian
PLUS Score
330-830
Experian
Vantage Score
501-990
TransUnion
TransRisk Score
400-925
*FICO has more than one formula for determining a credit score.
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In today's world your credit score plays a major role in determining whether or not you are able to obtain a mortgage loan, auto loan, credit card, etc. etc. with an attractive interest rate. General institutions use your FICO to determine whether or not they will extend you a credit offer. FICO scores range from 375 to 900. Although lenders set their own guidelines as to what is exceptable, so generally speaking a credit score of 660 or greater indicates a good credit risk. Scores that fall between 620 and 660 is still not bad. If your scores falls below 620 you may have a tough time obtaining a loan. Take a look at this site to see what the national credit score average is, it also breaks this information down by state. http://www.nationalscoreindex.com/USScore.aspx
Someone's credit card limit is determined by examining their credit score. Typically, one who has good credit will receive a much higher credit card limit than one who has a bad credit score.
doing extra credit and get good grades after that report card
Thanks to government regulations, you're entitled to your credit information. You can find information on getting it for free, and explanations about the nature of it, at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre34.shtm
AdvantagesYou can buy the stock and pay later when you have sold the stock and made enough money to pay them backEases the cash flow as you can pay after 28-30 daysDisadvantagesIf you do not pay them back on time you can build up a bad credit historyOnly companies with good credit history can be accepted the trade credit grant