What exactly is your credit score?

January 29th, 2008 by admin

What exactly is your credit score?  Your credit score is a numerical scored based on your credit report.  The credit score is based on a formula developed by the Fair Isaac Corporation.  You have three credit reports from the three major credit bureaus – Experian, Equifax, and Trans Union. 

Your credit scores affects the interest rate for your loan, and even if you can get a loan. 

Having a good credit score can save you a substantial money.  Over the course of a 30 year mortgage, the savings can be $100,000 or more. 

Use your credit responsibly and pay your bills on time and you’ll find that you’ll get a good credit score. 

Share and Enjoy:
  • Print
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Blogplay

Posted in Business | | 0 Comments

Leave a reply