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.
karma free credit score
Karma Free Credit Score Copyright 2009 - 2011
Karma Free Credit Score
Karma free credit score A person's credit score, often referred to as their "FICO" score, is an important tool that lenders use to help determine the creditworthiness of a potential borrower. To understand how to improve your overall credit rating, it is imperative you understand what factors influence your FICO score. Karma free credit score Credit scores are the most important aspect that determines your financial future. Carrying a good credit score is an asset and can pave your future towards greener pastures. On the other hand a negative marking on your credit report can be ruinous for your future dreams. Karma free credit score Experian-based FICO scores are no longer available to consumers. While lenders can access your Experian-based FICO score, you cannot. Consumers interested in credit repair or improving their credit scores now have one less option to help them.