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Andrew Alkire
04 February 2013 @ 02:22 am
what is a good credit scoreA one time credit score is a statistical expression based on a statistical analysis of a person's credit files, to represent the creditworthiness of that person. A one time credit score is primarily based on credit report information typically sourced from credit bureaus. Without credit, the global economic system might grind to a stop. Credit allows borrowers to immediately buy things they could not afford now. Most persons might not be able to purchase a house without credit. Most young adults do not have sufficient savings to afford the cost of even the most humble of homes. Yet, credit allows them to purchase a home that they can gradually pay off over time as their earnings increase. Without credit, many individuals might not be able to purchase an automobile. Credit also makes it convenient to make spontaneous purchases without the need to carry large sums of cash or checks.



If you want to know what is a good credit score, there are so many web site that appears to give information about what is a good credit score. As with anything there are advantages and disadvantages to using credit. Your informed use of credit cards begins with understanding these. Accordingly, credits are said to be immediate access. It claims to have security and record keeping of one time credit report. Some said it gives convenience. But unfortunately we also need to know that using a one time credit score, could cost to interest and fees. Wise use of credit means understanding those costs and acting accordingly.
 
 
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Andrew Alkire
what is a good credit scoreThese days, many more types of businesses including insurance companies and phone companies are using one time credit scores to decide whether to approve you for a loan or service and on what terms. Auto and homeowners insurance companies are among the businesses that are said to use one time credit score to help decide if you’d be a good risk for insurance. Creditors have been using credit scoring systems to determine if you’d be a good risk for credit cards, auto loans, and mortgages.



The biggest driving factor to a score is law-breaking payments or payment history. To determine what is a good credit score, developers of credit scoring appears to examine the profiles to identify common variables. They review the historical credit profiles of a set of consumers and build statistical models based on the credit variables that best predict future behavior and assign appropriate weights to each variable. What is a good credit score? A good credit score depends on the scoring system used by your particular lender. A higher credit score means you are likely less of a risk, and in turn, means you will be more likely to get credit or insurance or pay less for it. Yet, different scoring systems use different scales. Most credit scores fall between 600 and 750. A score above 700 usually suggests good credit management. If you have a good credit score from one of the credit reporting agencies, you are likely to have a good credit score with your lender.
 
 
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