How good is your credit?

Your FICO score is your current credit is calculated. The credit score is directly translated in your credit report in the positive and negative entries. Scoring criteria are divided into five categories, as follows:

Percent of your credit-type = 10
Your credit rating = 35% due to the amount of your current 30% =
Length = 15% of your credit history into new credit = 10Percentage scoring system of Equifax from 300-850 points, Trans Union's 150-934, Bailey 340-820. For example, a score in the lighthouse under the Gabriel system, FICO score:

340-600 = highest risk loans to people (minimum)
601-660 = high risk
661-720 = moderate risk
721-780 = medium and low risk
781-850 = lowest risk (highest points)

Together with the value of your FICO credit score, you willIn another country percentile ranking, which reflects the credit rating higher or lower than you are reducing the proportion of the U.S. population. For example, a 800-place, 92-percentile, your Experian credit score. 8 percent of the population has a high value, 92% lower.

The higher the score, of course, shows a lower potential criminal division - or speed to explain that in a certain area of the 100 borrowers who defaulted loansThe bankruptcy or decline in arrears 90 days or more. Thus, 50 percent of crime that is, each borrower is different 100,50 or more of the credibility problem.

Credit experts agree that, 1 720 FICO score, is the need to have a good credit risk. A lower value may either refuse to credit or your credit card will be less favorable conditions. If you follow the recommendations of this book, you should increase the score50-100 points.