+1- 888-503-3382 info@getgr8tcreditvip.com

As a specialist in the area of increasing credit scores for my clients, the question often comes up about what is a credit score?
For many years in my line of work, credit has always been such a huge mystery for many that have sought my advice.

Credit scores have become the angel and devil for just about everyone depending where you fit in to things. No one wants to feel like they are less then someone else because they can get approved for a low interest rate auto loan with no down payment, or a rebate credit card paying 10% on the purchases or even a the elusive line of bank credit. These kinds of credit opportunities are afforded by those that have either taken great care of their credit history or those that have taken the time to correct past credit history issues.

So what is the anatomy of a credit score?
The anatomy of a credit score is is divided by these factors.

As a specialist in the area of increasing credit scores for my clients, the question often comes up about what is a credit score?
For many years in my line of work, credit has always been such a huge mystery for many that have sought my advice.

Credit scores have become the angel and devil for just about everyone depending where you fit in to things. No one wants to feel like they are less then someone else because they can get approved for a low interest rate auto loan with no down payment, or a rebate credit card paying 10% on the purchases or even a the elusive line of bank credit. These kinds of credit opportunities are afforded by those that have either taken great care of their credit history or those that have taken the time to correct past credit history issues.

So what is the anatomy of a credit score?
The anatomy of a credit score is is divided by these factors.

fico_chartEvery lending institution is using something that looks alot like this to base their decisions to lend money. Most people have never been taught how credit scoring is utilized in lending decisions and also they do not recognize how they “fit” in to the credit scoring process.

There are three credit reporting agencies that are most often the source of any kind of reference or reporting of credit accounts. Those three credit reporting agencies are Experian, Transunion and Equifax. Now, they are not only credit reporting agencies, but they are the top three most people are impacted by in many situations.

A credit score is a 3 digit number that spans from 300 to 850 and each credit reporting agency has their own algorithm to determine yours.

The average consumer is on record with any of these three agencies by the time they are at least in their early twenties. This is generally especially if a bank account has been opened by that age timeframe.

Credit history of any length, scale or even types of credit accounts will reflect in any given credit score. Credit scores are sensitive to balances and frequency of payments. Lower credit scores are generally the sign of slow, poor or inadequate credit history.

Getting a clear idea of where you stand in the credit spectrum is a smart step. Just because you do not know something is there, doesn’t mean you should ignore it. One easy step to becoming informed is using a great free tool, FREE CREDIT REPORT ACCESS

If I can help you, please be sure to reach out, email me at info@getgr8tcreditvip.com or toll free 888-503-3382.

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