“Learn What Your Credit Score is and What it Means to YOU!”

<h1>“Learn What Your Credit Score is and What it Means to YOU!”</h1>Author: <a title="denise manniello" href="http://www.articlesbase.com/authors/denise-manniello/165744.htm">denise manniello</a> What’s Your Credit Score? What? You don’t Know? Or it’s a solid 650. Is that a combined score, and individual score or a score directly from FICO? What difference does it make any way! It actually makes a big difference especially when YOU are trying to Live Your Best Life NOW! A Credit Score is a numerical value assigned to you based on your credit history and potential risk. Scores can range from 300 to 850. The higher the number, the better your Credit Score. Fair Isaac (now FICO) developed the score. Each of the three major credit reporting agencies: TransUnion ( who I used to work for), Equifax and Experian have different formulas and credit scores. You see, your score is different depending on the bureau used. Credit Scores are used by many different companies that are approved and have permissible purpose to use them. For example, employers, wedding planners, insurance companies, banks, mortgage companies, and now even dating services. They use this as a gauge of credit worthiness, for personality and behavioral traits too. Lesson. The Higher Your Score the better your chances are for anything! You fill in the blank. Did you know….Your credit score is directly related to the interest rate? Yes, on auto loans, mortgages, credit cards etc.In addition to lenders, others use credit scores as well. 5 Variables make up your credit score, each carrying a specific weight. (I go into more detail with charts and graphs on my web site). <a href="http://www.federalcreditrepair.org/"><a href="http://www.federalcreditrepair.org" target="_blank">www.federalcreditrepair.org</a></a> Check it out! Credit history (35%) Past due accounts, late payment histories will hurt your credit score. Especially on a MORTGAGE or HOME LOAN! Amount owed (30%) The amount you owe and the type of loan will have an impact on your score. Having credit lines that are available will improve your score. Length of credit history (15%) The longer you have credit history the higher your credit score. New credit (10%) New credit accounts will lower your credit score. Types of credit (10%) You want  a balanced mixture of fixed term (i.e. Auto Loans, Mortgages, etc…) and lines (i.e. Credit Cards, Home Equity Lines of Credit, etc…) All this will boost your score. It is imperative to have an outstanding credit score. You never, ever know when you will need it! Take the necessary steps today to Increase Your Credit Score. Pay your credit accounts on time. Do not apply or take out too many new accounts in a short period of time. These will reduce your credit score. Know you Credit Score. For a FREE copy annually go to <a href="http://www.annualcreditreport.com/"><a href="http://www.annualcreditreport.com" target="_blank">www.annualcreditreport.com</a></a> Knowing and Increasing Your Credit Score will help you Live Your Best Life NOW and SAVE Money!About the Author: You can, as long as you include this complete blurb with it: Denise A. Manniello, Former Credit Bureau Executive is founder of the VIP Credit Score Improvement Coaching Program. It’s a step-by-step program that shows you exactly how to improve your credit score…fast! This enables you to get the best loan rates possible…every time. To get your F.R.E.E. Tips Newsletter and F.R.E.E. Special Report, visit <a href="http://www.denisemanniello/ezine" target="_blank">www.denisemanniello/ezine</a> and sign up NOW!

WANT TO SEE MORE ARTICLES LIKE THIS ONE? See Denise’s Blog <a href="http://www.denisemanniello.com" target="_blank">www.denisemanniello.com</a>
Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/business-articles/learn-what-your-credit-score-is-and-what-it-means-to-you-1021891.html" title="“Learn What Your Credit Score is and What it Means to YOU!”">“Learn What Your Credit Score is and What it Means to YOU!”</a>

What’s Your Credit Score?

What? You don’t Know? Or it’s a solid 650.

Is that a combined score, and individual score or a score directly from FICO?

What difference does it make any way! It actually makes a big difference especially when YOU are trying to Live Your Best Life NOW!

A Credit Score is a numerical value assigned to you based on your credit history and potential risk. Scores can range from 300 to 850. The higher the number, the better your Credit Score.

Fair Isaac (now FICO) developed the score. Each of the three major credit reporting agencies: TransUnion ( who I used to work for), Equifax and Experian have different formulas and credit scores. You see, your score is different depending on the bureau used.

Credit Scores are used by many different companies that are approved and have permissible purpose to use them. For example, employers, wedding planners, insurance companies, banks, mortgage companies, and now even dating services. They use this as a gauge of credit worthiness, for personality and behavioral traits too. Lesson. The Higher Your Score the better your chances are for anything! You fill in the blank. Did you know….Your credit score is directly related to the interest rate? Yes, on auto loans, mortgages, credit cards etc.In addition to lenders, others use credit scores as well.

5 Variables make up your credit score, each carrying a specific weight.

(I go into more detail with charts and graphs on my web site). www.federalcreditrepair.org Check it out!

Credit history (35%) Past due accounts, late payment histories will hurt your credit score. Especially on a MORTGAGE or HOME LOAN!

Amount owed (30%) The amount you owe and the type of loan will have an impact on your score. Having credit lines that are available will improve your score.

Length of credit history (15%) The longer you have credit history the higher your credit score.

New credit (10%) New credit accounts will lower your credit score.

Types of credit (10%) You want a balanced mixture of fixed term (i.e. Auto Loans, Mortgages, etc…) and lines (i.e. Credit Cards, Home Equity Lines of Credit, etc…) All this will boost your score.

It is imperative to have an outstanding credit score. You never, ever know when you will need it! Take the necessary steps today to Increase Your Credit Score. Pay your credit accounts on time. Do not apply or take out too many new accounts in a short period of time. These will reduce your credit score.

Know you Credit Score. For a FREE copy annually go to www.annualcreditreport.com

Knowing and Increasing Your Credit Score will help you Live Your Best Life NOW and SAVE Money!

You can, as long as you include this complete blurb with it: Denise A. Manniello, Former Credit Bureau Executive is founder of the VIP Credit Score Improvement Coaching Program. It’s a step-by-step program that shows you exactly how to improve your credit score…fast! This enables you to get the best loan rates possible…every time. To get your F.R.E.E. Tips Newsletter and F.R.E.E. Special Report, visit www.denisemanniello/ezine and sign up NOW! WANT TO SEE MORE ARTICLES LIKE THIS ONE? See Denise’s Blog www.denisemanniello.com

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Article Tags: Money, Debt, Loan, Credit, Credit Score, Saving Money, Credit Repair Expert

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