Home     About Us    Contact Us     Contribute     Privacy
Mutual Funds
Related Articles
Related Discussions
Related Definitions
Related Categories
Tip of the Day

Tip of the Day Use a Mortgage Broker

Use a Mortgage Broker - When purchasing a home, why not use a mortgage broker as he can shop around all the financial institutions and generally find you a much...

read entire tip

Related Podcasts
Recently Added
Other Great Sites

Credit Score Estimator

A credit score is the most important tool that an American consumer or business person can maintain, and these scores are set by major credit reporting agencies.

A credit score is estimated similar to grade school. A teacher calculates grades by taking test scores, homework, attendance and anything else they want to use, weighing each one according to importance to come up with a final, single-number score. It's the same for a credit score. But instead of using the scores from pop quizzes and papers, it uses the information in your credit report.

Your debts show up on a credit report, but your credit score is a little different. Its job is to give lenders a yes-or-no answer in response to the question, "Will this person pay my money back?"

The number ranges from 300 to 850. Here's how it breaks down:

35 percent of the score is based on your payment history. What a lender wants to see is whether you make your payments on time, and if not how often you are late. The more recent, the worse it will be for your overall score.

30 percent of the score is based on outstanding debt. How much do you owe on car or home loans? How many credit cards do you have that are at their credit limits? The more cards you have at their limits, the lower your score will be.

15 percent of the score is based on the length of time you've had credit. The longer the better, because more information about your past payment history gives a better picture of your future payments.

10 percent of the score is based on new credit. Opening new credit accounts will negatively affect your score for a short time. Each time a lender accesses you files it has a negative impact.

10 percent of the score is based on the types of credit you currently have.

Your data is compared to that of other consumers with similar histories and profiles. Some lenders also have their own scoring methods, which may include information such as your income or how long you've been at the same job.

Discuss It!

5 best wireless routers said:

best wireless routers under $100

New year 2018 Facebook Cover Images said:

new year 2018 is good to go to come and individuals have just begun sharing messages and wishes to their friends and family ahead of time

professional paper writer said:

My friend last few days ago was telling me about this process. But you know what I didnât pay attention that what he is trying to say to me. But now I have realized after having all this information on your blog as well he was just right.

Questions To Ask A Guy said:

There's no doubt i would fully rate it after i read what is the idea about this article. You did a nice job..

Obsession Phrases said:

so happy to find good place to many here in the post, the writing is just great, thanks for the post.

His Secret Obsession said:

It's late finding this act. At least, it's a thing to be familiar with that there are such events exist. I agree with your Blog and I will be back to inspect it more in the future so please keep up your act.

His Secret Obsession said:

I would like to thank you for the efforts you have made in writing this article. I am hoping the same best work from you in the future as well..

Cassava said:

I don t have the time at the moment to fully read your site but I have bookmarked it and also add your RSS feeds. I will be back in a day or two. thanks for a great site.

Benefits of Thyme said:

Nice blog. Found this while searching through

Most Popular Articles
Most Popular Definitions
Related Questions
Daily Definition

Definition of the Day Cum Rights

Cum Rights - Cum rights are rights, which are issued by a company to their qualified shareholders that can be transferred with the sale of their shareholder's shares of the company's stock when it is sold to a different owner. These work like ex-rights, although...

read entire definition




Home     About Us    Contact Us     Contribute     Sitemap


Copyright © 2009 TeenAnalyst.com