|Posted by Percy A Lowe on September 27, 2013 at 7:00 AM|
There are countless articles out there that will all tell you different things about what the credit score ranges actually are. This is because every institution decides for itself what these numbers mean to them. That doesn't mean we need to go in blind though! Based on overall reactions we can make some general statements about ranges and what this all amounts to.
Whenever you apply for anything where your finances are judged like loans, rental applications, insurance, or anything else where they do a credit check you will want to have an idea of your score, and what it all means. To get a wider idea of your actual situation you'll want to look at your credit report. When you look at this, fix anything that you can and that should help get your score to the best it can be for when you need it most. If you find this diffuclt to accomplish look for a credit restoration company that is very transparent with their services.
Do you remember when life was simple back in high school? You probably knew what your grade point average was down to the hundredth of a place.Well your credit score has been called your "adult G.P.A."And just like a 4.0 was an excellent grade point average, you can tell how you're looked at financially by your credit score ranges.
You don't just have one number though, you have three. Each of the reporting bureaus - TransUnion, Equifax, and Experian - calculate the score a little differently, sometimes using different information. Often mortgage professionals will pull all three reports and use the middle numbers, but most of the time, the creditors just pull one number, so you need to know what all your numbers are.
I like to introduce you to the ne VantageScore: was available at the end of 2006. Now if you never herd of VantageScore and it is 2013 you are 7 years behind. Yes, 7 years but your credit repair are credit restoration companies should have been teaching you and providing some materials on VantageScore. So, if you plan to get yoru credit fixed and the person are company can help educate you on what is going on between; Experain, Equifax, TransUnion, MyFico, and VantageScore. I advise you to run real fast becaue I am sure they don't know what they are doing.
Hopefully all this information has given you an idea of where you stand financially. It can be hard sorting all this out, but knowing the credit score ranges can help you take control. But having some credit education is so important on the ways you can affect your credit report card. Please visit coveringyouwithwealth
Categories: Building Credit Score