Credit Score
Credit Score – Let’s discuss more about bad credit and credit score. As a homeowner, your credit score is a function of your past line of credit. In the U.S., three different agencies keep a record of each consumer’s line of credit. Those agencies are Experian, TransUnion and Equifax. If a homeowner with a low credit score wants to raise that score, then the homeowner must contact each of those three agencies.
If you have a low credit score, then you need to pay higher interest payments. A score above 700 is assurance of good interest rates. The credit score also serves as an indicator of whether or not a lender should accept a homeowner’s application for credit. Decisions on credit limits for the homeowner are likewise based on the homeowner’s credit score. We will discuss more about this in our next post. So, stay tune.
Another financial news:
November 4th, 2009
bad credit