Edge of Bankruptcy

Submit Enquiry




Enquiry Type


Enter Code:

Crunch The Numbers On Your Credit Score - Discover How Much You'll Save

Is your financial reputation tarnished by a bad credit score? Perhaps you need to take a look at the main factors involved when creditors are crunching the numbers to determine weather or not they want to lend you money.

Your credit score is a reflection of how responsible you are with your finances. It is a number assigned to you based upon your track record of how well you handle credit responsibilities. Having a bad credit score means that your credit reports have shown some negative credit history activities.

Negative credit activities will lower your overall credit score. If a creditor sees that you have a bad credit score, you will not qualify for the lowest interest rates because you are looked upon as a high risk. If you have a really low or bad credit score, you may not qualify for the loan you were hoping to qualify for at all.

Credit scores range from 300 to 850, the closer you’re score is to 850, the more money you will save. There are predetermined credit score levels consumers must reach in order to qualify for these money saving, low interest rate loans. The higher you can raise your bad credit score, the more money you will be able to put into the bank rather than pay high interest rates.

If you can raise your bad credit score up to at least 760 before applying for that big loan, you will qualify for the absolute best rates possible. This is considered to be an excellent credit rating.

If your credit score is between 660 and 759, you are at the second highest level. You will most likely qualify for a sizeable loan with interest rates about .24% higher than consumers with the best credit rating.

If you can raise your bad credit score up to 580 - 659 you will be in the fair credit rating category. Monthly payments will be about 1.5% higher than the average consumer with the best credit score.

Having a bad credit score below 579 will cost you, it is in the high risk category and you will most likely pay a full 3% more in annual interest rate fees.

But having a bad credit score is not the end of the world. Your credit score is constantly changing based on your current credit activities. If you know exactly what factors are involved when creditors calculate credit scores, you can take the necessary steps to raise your score considerably and qualify for the lowest rates possible.

Get the all the Number-Crunching details about how you can easily raise your credit score at my credit repair website and don't forget to pick up your free credit report while you're visiting.

This article is free for republishing
Source: http://www.articlealley.com/article_96213_19.html

Don't Miss...
  1. Crunch The Numbers On Your Credit Score - Discover How Much You'll Save
  3. Student Auto Loans: Eliminate Your Transport Predicaments
  4. Wonderful Mortgage For Good Consumers
  5. Re-mortgage Advice – Act Smart with Mortgages
  6. What is the National Average Credit Score?
  7. How Does The New Credit Score Benefit Consumers?
  8. What's in Your FICO Score?
  9. Loans: Lend yourself a day in the sun
  10. Online Unsecured Loans: Some Clicks Help Upkeep Your Finances
  11. Relieved Of Debt Through Debt Consolidation Loans
  12. Adjustable Rate Mortgage
  13. Mortgage - Harvesting Time for Consumers
  14. Good Things To Know About Christian Money Loans
  15. Credit Score Improves by Paying on Time
  16. Tips for Surviving Financial Insolvency
  17. A Consumers Guide To Mortgage Brokers And The Evil Yield Spread Premium
  18. The Pros And Cons Of Debt Consolidation Loans
  19. How To Address The Problem of Adverse Loans
  20. Bad Credit Unsecured Loans: Help Keep A Good Financial Health
  21. Bad Credit Consolidation Loans- Out of the Frying Pan into the Fire
  22. Home Equity Loans - How To Use Your Home's Equity To Consolidate Debt
  23. No Credit Check Loans: Still Gives Money Break For You
  24. Personal Loans- Always Cheaper
  25. Tips To Success In Raising Your Credit Score
  26. Get a No Credit Check Mortgage
  27. Homeowner Loans : Your home will fetch money , while you still live in .....
  28. Unsecured Business Loans – Serving Commercial Needs
  29. Refinancing a Mortgage to Avoid Possible Debt Problems
  30. Small Business Loans: Set Your Track Right In Business
  1. Bad Credit Scorers Can Avail Secured Loans Fast
  2. The Best Way to Improve Credit Scores
  3. Put Down Your Credit Score, Avail Adverse Credit Secured Loans
  4. Bad Credit Car Loans: Making Bad Credit Scorers, Car Owners
  5. A Tenant with Poor Credit Score can Avail Loans Online
  6. Reason Your Credit Scores Still Go Down When You Do Everything Right
  7. Four Damaging Myths About Your Credit Score
  8. How to Raise Your Credit Score
  9. Keep Aside Your Credit Score, Avail Adverse Credit Secured Loans
  10. Knowing Your Credit Score Is Essential In Preventing Bankruptcy

© Edge of Bankruptcy 2008. All Rights Reserved