Order a credit report San Antonio

What is a credit score? It is the number that creditors use to help them decide whether to extend credit to you and also what rate of interest to charge you. In most cases, the lower the order a credit report San Antonio credit score, the higher the risk. There are numerous types of credit scores, but the most prevalent is the credit bureau score.

The credit bureau score is order a credit report San Antonio based solely on the information contained in your consumer credit reports.

Most credit scores are based on calculations by Fair, Isaac and Company (FICO).

Over time, FICO developed the scoring model that is most widely used. What does your credit score do for you? It gives lenders a quick and order a credit report San Antonio easy way to determine your probability of repayment. monitor credit report Before credit scoring, the task of obtaining a loan was slow and cumbersome, and often relied on the judgment of the person making the decision. Since credit scores have become widely used, loan processing has become quicker, fairer, and has had an effect on standardizing rates. Not all lenders however, base credit decisions solely on your FICO score. Many consider other criteria like job time, residence time, down payment and order a credit report San Antonio other factors to determine whether or not to extend credit. free online credit report canada

What is a good score? Scores range from the low 400s to well past 800. The higher the score, the better the credit rating. Most lenders use a break of somewhere around 620 as the determining factor of a regular loan versus what is called a sub prime or higher-risk loan. Some lenders will not extend credit to people with under 620 credit order a credit report San Antonio scores and other lenders will offer those loans, but at a order a credit report San Antonio higher interest rate. A few lenders do automatic approvals for people with 750 or higher scores with no questions asked. Arent there several credit bureau agencies? Yes, there are three primary credit bureau companies: Equifax, Experian and TransUnion, and each of them refer to their credit scores by different names. all three credit reports free At Equifax for instance, their score is called the beacon score. At order a credit report San Antonio Experian, it is the order a credit report San Antonio Experian/FICO score and at TransUnion, it is called Empirica. How do I find my credit score? You can purchase your FICO score right over the Internet at either www.myfico.com or at the Web sites of any of the major bureaus.