Understand your Credit Score
One of the foremost things we normally do at Credit Repair Greenville SC is helping you understand your credit score. We have readily available lending experts that will review your creditworthiness using your credit history and score as measuring bars. They will use the score to evaluate the probability that you will be able to pay back and on time. When you fully grasp all what your score is about, acquiring all your heart desires becomes easy. Getting things like a home, car, or a loan becomes stress-free. It is well known that FICO score is between 300 to 850 and having a score of 670 to 739 showcases that you have a “good” score. To be exceptional, you must attain above that. Any good credit score will set you free financially and you will be amazed at how much you can achieve.is necessary for you to experience some type of financial freedom. However, having a lower score can cripple your financial strength.
Credit Score FactorsDealing with your credit entails some contributing factors. These factors will have a telling impact on your creditworthiness. Some of them are:
Among the vast number of credit scores available is the FICO (Fair Isaac Company) score. This is a scoring model shown on your credit report. It is the defining statement of your overall credit, since it helps lenders make accurate, reliable, and fast credit risk decisions across the client’s. This score is based on how likely clients will pay their credit obligation as agreed. The mathematical equation used evaluates data in your credit report and then cross-reference it with a database of your former reports. The final score reveals your creditworthiness. There are several types of credit scores, however, the most commonly used scoring method is the FICO (Fair Isaac Company) score.
What Makes Up Your Credit ScoreThe FICO system calculates your score using data from your credit report. The data so used are classified into:
1. Payment History that makes up 35% of your credit score
2. Amounts Owed that makes up 30% of your credit score
3. Length of Credit that makes up 15% of your credit score
4. New Credit that makes up 10% of your credit score
5. A mix of Credit Types that makes up 10% of your credit score
Your overall credit score is proportional to percentage contribution of these factors. Paying your creditors adequately and amount owed ranks highest in the order of their importance.
Hire Credit Repair Greenville SCWe believe you are not satisfied with the way your credit report portrays you to lenders. This is why, at Credit Repair Greenville SC, we want you to understand your credit. We encourage you to contact us to discuss your current credit situation. Do not be deceived into believing your credit is irreparable, it may not be as bad as you think it is. We have proven effective methods for improving your credit score, which we are keenly aware of and would want you to enjoy too. Permit us to help you understand and use your credit better to enjoy some level of financial freedom. Call us today!
Contact Credit Repair Greenville SC at 864-428-9118 for free estimates.