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Knowing where you stand

Posted by Percy A Lowe on September 22, 2013 at 8:00 AM

According to the Credit Bureau study in 2012, there are two averages the consumers need to know. These averages are good to gauge yourself off of to know where you are. You have a state average credit score rating an individual average as well. First let’s discuss the state average because it is based off the entire state you live in and those who takes care of their credit. Because that plays a factor into your credit score as well on whom you are being compared to. Also, knowing your state average is good to measure your credit score off the state average. This helps measure your credit risk when applying for credit cards, credit lines, and loans.

Now, you have the individual average where it is based on what you personally are doing to affect your credit score positively or negatively. That is based on everyone owns individual experience with using their credit. So, the individual score has many factors that each individual is gauge against. Just as well as classification as well. The key really is to know them both and making sure you can either been on your state level or above with your credit score. In this case you can count on saving money with no deposit and acquire the interest rate hopefully you can deal with. Remember; don’t take interest rates so seriously because they can be manipulated easily.

Now, the state national average credit score is 687 and the individual national credit score is 749 to 750. The goal is to be able to maintain a credit score between the 687 and 750 if not try to get your score above the 750. The goal is to be able to maintain your score above 750 on a regular basis year after year. I know some are saying that is impossible because something always goes wrong. But think really hard something is always going right as well. You just need to know how to capitalize off what is going right. Meaning it is your money that is being spent and you might as well get some credit for spending it and the credit you get is helping your credit score raise monthly. But, I know what you are thinking that is impossible because I don’t own a credit card, I don’t use them, they are rip off’s, I use a debt card, are I use a pre-paid debt card. Those work fine for me but in actuality no of those systems works in your behalf. What you need is some wise use of credit card education. If you take the time out to want to be educated I advise you who are reading this blog to visit: coveringyouwithwealth click on the inquiry tab and leave your information. Then in the message box ask how to raise my credit score 100 points and learn to maintain it is what I am looking for.

By: PERCY A LOWE

 

 

Categories: Credit Education and Restoration

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