How To Be Saved By A Good Credit Score


Welcome to How To Be Saved By A Good Credit Score, a blog that is all about credit scores and the credit industry. Here you will find the latest news, tips and advice on credit reports, credit cards, mortgages, and credit scores in general. As the title implies we also explore how you can use your good credit score to save money.

You may ask why I am creating this blog? The reason is simple – I love everything about credit. I’ve been obsessed with it since my first credit card in college and now I want to share some of what I have learned over the years with everyone else.

If there is something you would like me to cover or if you have a question about credit or anything else please feel free to email me at: Steve@HowToBeSavedByAGoodCreditScore.com

In addition this blog will be a place for me to share my personal thoughts and views on everything from music to movies as well.

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This blog covers various topics related to credit scores. Here you will find advice and tips on how to improve your credit score, get out of debt and even find ways to save money on interest rates.

This blog is a place where you can learn about credit scores and how they affect your life. The goal is to educate people so that they can make informed decisions when it comes time for them to apply for a loan or mortgage.*

The credit scores are calculated and maintained by three national credit bureaus, which are Experian®, Equifax®, and TransUnion®. These bureaus use an algorithm called FICO to calculate the credit scores. A FICO score is calculated by compiling information from the credit history of a person and his previous financial transactions and behaviors. The factors that affect the scores are payment history of a person, his debt-to-income ratio, age of credit history, the types of credit he has used in the past, and many other factors.

A good credit score is one that is at least above 700 points. A person with such a score will have a very easy time in obtaining a loan or any other type of credit from banks and other financial institutions. This score is also helpful in obtaining better interest rates on loans. Moreover, people with a strong credit score can also easily get approved for apartments to rent out or even get hired for a job in some cases.

Have you ever wondered how your credit score is calculated? Well, here you go. The FICO credit score is the most popular credit score and is 65 percent of the consumer’s credit score. If a consumer does not have a FICO score, the next highest Vantage Score is used.

The FICO score ranges between 300 and 850. The higher the number, the better the consumer’s credit. A good FICO score starts at 670. The lowest range is 300 to 579 and this represents poor credit. A consumer with a poor credit score may not be approved for loans or even be denied employment by some employers who believe that a person with a poor credit score will steal from them.

What are the factors that determine your FICO score? 35 percent of your FICO score comes from payment history, 30 percent comes from amounts owed, 15 percent comes from length of credit history and 10 percent each comes from new credit and types of credit in use.

Payment history makes up 35 percent of your FICO score. This means all past due payments are reflected on your FICO report along with public records such as bankruptcies and foreclosures. It also means that if you always make your payments on time you will have a good payment history

You can’t be rejected for a credit card because of your credit score. This is because the Credit CARD Act of 2009 forbids credit card companies from rejecting anyone for having a bad credit score. If you have bad credit and want to improve it, you should get a secured credit card. A secured credit card requires you to make a deposit on the card before you can use it, there’s no annual fee, and they often don’t do a hard inquiry on your account during the application process. After having a secured card for six months to a year, you can apply for an unsecured card and have them refund your deposit.

If you’re in college and want to build up your credit history, sign up for one of these cards!

The Credit Score, A Magic Number.

One number can make a magical difference in your life.

When you have a good credit score, you get approved for the loans and credit cards that help you achieve your financial goals. You qualify for lower interest rates, saving you money over the life of the loan. It can even help you get a new job or apartment!

A credit score is a three-digit number based on a statistical analysis of what kind of risk you pose to lenders. Your credit score is based on factors such as your credit history, payment history, and outstanding debt. There are many different types of credit scores, but most banks use FICO scores as they are the most widely used and accepted scores. FICO scores range from 300-850 with an average score being around 723. The higher the score, the better terms you will qualify for; if your score is below 650, it may be difficult to get any type of financing.

What affects my credit score?

A few simple things can help or hurt your credit score:

On time payments (35%): making sure all monthly obligations are paid on time is critical to keeping your score high. Late payments negatively impact your score and can stay on your report


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