credit_good_number_score by francies

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									You and Your Credit Score: What's The Good Number?


Have you ever wondered why people get denied for loans and why other
people get approved for it instantly? Have you ever wondered why some
people are not accepted by some companies even though they are qualified
for the job?

If you answered yes to either of these questions, then you haven't heard
about credit scores. Credit scores are an important part of today's life.
This particular three-digit number will determine whether you are likely
to pay the loan you will apply for or will pay the monthly bills.

If you have a low credit score, then getting a phone line hooked up in
your house can be very difficult to do. Some phone companies take a look
at your credit score in order to determine if you will likely pay their
monthly bills or not. Sometimes, certain jobs will require you to have a
high credit score. It is a fact that people who are qualified for a
certain job in a company are usually denied of the job because they have
a low credit score. This is why you should consider taking all the
necessary steps to have a high credit score or at least have a good
credit score.

In the United States, Fair Isaac Corporation or FICO is the best known
credit score model that calculates your credit score. This company
calculates your credit score by using mathematical formulas. It is a
calculation that is widely used by lenders, such as credit card companies
and banks.

The FICO score is designed to provide information to lending companies if
a particular person will likely pay their bills or not. It will also
contain reports of your past loan application and if you will be
delinquent in the next 2 years or the next 24 months.

There are also three credit reporting agencies existing in the United
States today and uses their own methods and formula to calculate your
credit score. Each calculation differs, even if it was developed by FICO,
and are updated periodically that will reflect your repayment behavior.
Also, lenders or creditors use whichever calculation they want to use.

The FICO score ranges from 300 to 850. By having a high or good credit
score, you will be able to access low interest credit cards and also low
interest loans. You will also have a higher chance of getting hired by
companies that require a good credit score.

You now ask what makes a good credit score number in the FICO score.

It is a fact that having a higher credit score is good. But you also have
to know what makes a good number that will guarantee you of getting
approved for a credit card or a loan. In the FICO score, a good number is
at around 725.660. By having this kind of score, you will have a higher
chance of getting approved for that car loan, mortgage or for that credit
card you have been applying for.
You can get your credit score from FICO or from the credit reporting
agencies annually for free. Or, you can also get your credit score as
often as you want within the year for a fee.

Always remember that by having a good credit score number, you will be
able to have access to low interest loans, and credit cards. By having at
least a 725.660 credit score, you will be deemed credit worthy. Make sure
you have a higher credit score in order to save thousands of dollars in
terms of interest rates.

								
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