Good Credit
Good credit can be the make-or-break detail that determines whether
you'll get a home mortgage, low interest credit cards, a personal lines of
credit or a job (lots of employers check the credit of candidate applying for a
position in their company). Good credit can
signify your financial situation. It can
be an indication that your life is on the right path to success.
You can check your credit score by requesting a free credit report every
year from each of the three reporting bureaus: Equifax, Experian, and Trans Union. Your
credit report is separate from your credit score. In addition you also need to request your
FICO from the three reporting companies mentioned a previously. Your credit score is based on the information
found on the credit report. Some of the
scoring factors are payment history, amounts owed, length of credit history,
types of credit used and they look at have you applied for new credit. FICO scores range from 350 to 850.
You can repair your damaged credit but it takes time, a conscious effort
and setting up a personal debt repayment plan and stick to it. There are some credit repair services
available through some lending institutions.
The counselors offer some of the most effective and efficient ways to
help you repair your credit.
Happy Investing!
This blog post courtesy of Bernita Mckinnion, Home Land Investment Properties, Inc.
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