Your credit score is calculated based on the information in your credit report. Credit scores allow lenders to quickly make on-the-spot credit decisions based on a 3-digit number that sums up your credit worthiness. There are many credit scoring models in use today; all are designed to rate your likelihood to repay your debts. When you order your credit score, you will also receive an analysis of the factors affecting your score.
Your credit report is a snapshot of your credit at a particular moment in time. However, in reality that information is flowing in and out of your credit report all the time. Credit applications, home and auto loans, payments, an address change or even an inquiry from a prospective creditor all show up on your credit report - and affect your credit score.
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Credit history is the main determining factor of credit nowadays, but there are potential problems that can work against consumers. Since some credit reports can contain inaccuracies serious enough to cause consumers to be denied credit, a loan or even a job, keeping abreast of changes to your credit file is vitally important.
columbus ohio credit bureau
Columbus Ohio Credit Bureau Copyright 2009 - 2011
Columbus Ohio Credit Bureau
Columbus ohio credit bureau If you don't know what your credit score is, you should. This is one of the most basic pieces of information potential creditors use when they decide whether or not you should qualify for a loan or credit card, for example. Columbus ohio credit bureau Why does each credit bureau have different scores for you? Because not all creditors report to all 3 credit bureaus; therefore, you may have more bad credit items on a report than the other two, thus the report with the most bad credit items on it will have the lowest score. Columbus ohio credit bureau Credit scores will affect your loans, your insurance, and your ability to rent an apartment. Your credit scores may even affect your ability to get a job. A nationally recognized credit repair expert answers your questions about credit scores.