Question about my credit score?
Posted on Aug 18, 2007 with Comments 5
fenixtxbabe182 asked:
I just looked at my free annual credit report for the first time and it looks like everything is in good standing. I was thinking about paying to see my credit score but I was just wondering what factors go into it? I’m 22 and my credit report looks good so is it safe to assume I’ll have a decent credit score?
Rozella Caras
I just looked at my free annual credit report for the first time and it looks like everything is in good standing. I was thinking about paying to see my credit score but I was just wondering what factors go into it? I’m 22 and my credit report looks good so is it safe to assume I’ll have a decent credit score?
Rozella Caras
Filed Under: Credit
Your credit score is technically a statistical method of assessing your creditworthiness. Credit scores are based on several different factors including your credit card history, amount of outstanding debt and the type of credit you use. Negative information, such as bankruptcies or late payments, is also used to calculate your credit report score as well as collection accounts and judgments. Too little credit history and too many credit lines with the maximum amount borrowed are also included in credit-scoring models to determine your credit score.
If there’s a reason you need to see it then you can pay. It’s only about $7 to get it. Just remember that different things can hurt your credit such as low credit limits, frequent inquiries, and if the accounts have been open less than a year. I don’t have very much on my credit report but what has hurt me is that all my limits are kinda low, but I’m only 21. If you go to credit counselor they can look at your credit report and estimate a score.
yea you should i mean
you do keep up with every think
and if you dont have alot of card that is good
Your credit score is essentially an assessment of your financial standing, spread out across a variety of different factors. It is affected by both positive and negative factors, which paint a picture of how you handle borrowed money. If you have a reason to question your credit score, it wouldn’t hurt to pay ten dollars to acquire it.
Credit scores are, in theory, a representation of trust. When calculating your score, factors such as the amount of credit you’re already entitled to, how long you’ve been exposed to credit, the amount of withstanding debt, payment history, bankruptcy, etc. Lenders look at this information before agreeing to process you through for loans, credit cards, home, auto and mortgage financing, and more.
Since you’re only 22, you’ll likely have a reasonable credit score unless you’ve missed payments, defaulted on a loan, been consistently late-to-pay, etc. Your credit won’t be great because you’re too new to the system– it takes years to build up a reputable credit standing.
For more information, try
You can pay for scores through Transunion, and Equifax, but if you want the most accurate scores go to http:www.myfico.com
I have paid for all of them, then when I got my mortgage approval, the scoring system they used was dead on to FICO scores.
Their scoring system is the industry standard. Not all places use FICO, but they do use their scoring model.
Plus, they’re having a 25% off sale through April 30th.
Find the link to “fico standard” to get one or all three scores.