What Makes a Good Credit Report Score?
The FICO standard scale ranges from 350 all the way to 850. So, you’re probably wondering- what exactly is considered a ‘good’ credit report score? In this article we will demystify credit ratings and discover what level you should aim for to increase your borrowing power.
How to Get Your Free Online FICO Score
Simply by grabbing a free online FICO score now, you will start to monitor your credit and repair anything that doesn’t look accurate there. Obtaining respectable credit, and consequently a respectable credit score rating, is very important to most financial situations involving your creditworthiness and especially when applying for personal loans, auto loans, and mortgages.
How Does Applying For a Credit Card Hurt Me?
Most people do not realise this but applying for a credit card actually hurts your credit score by 5 to 6 points. While this may not sound much, a few of these are enough to really hurt your credit score.
Credit Report - How Do Late Payments Affect My Credit Report and Score?
Of course you don’t want to make any late payments on your credit cards or loans and affect your credit report and score unless you absolutely have to, but what happens if you’re unable to avoid it? It all depends on whether you’re 30, 60 or 90 days past due. If it’s only one late payment you may be able to dispute it and get it removed from your credit report but if it’s more than one that may be difficult to do.
