You may wonder why Americans today, if they haven’t been making attempts to secure the perfect credit record in recent years, would be the first to make such a bargain with their lenders. If the criteria that was developed by the lenders is at least fair and in keeping with the U.S. Charter of Values and Consequences, then it would have been obvious that the Americans would not have done this then’
‘The new creditors included in the agreement have not made any changes to the existing credit agreement or lending agreement’
‘The proposed changes were not made because the existing agreement included a new terms and conditions for credit or due credit, but because of the revised terms and provisions for credit that were discussed at the time by each creditor in person – the two sides rarely stood still talking about such matters. On the contrary, in the months and years that followed, it was clear that the discussion over such matters reached a consensus at the highest levels of the nation’s finance industry.
Just how to get a credit score is one of the few areas of misunderstanding. The actual information in your credit report is also one of the few areas of misunderstanding – both public and private. It is essential for us to know what is in the information in our file and what it reflects, so that our decision makers will be more circumspect than ever in granting credit and loans to those we trust with their best interest.
Many consumers lack the resources to go to the credit agencies and obtain a credit score. We all take for granted a bad credit rating, so acceptance of a credit score simply is not a consideration. There are many types of information in the credit report – terms of loans, credit cards, and employment patterns. Some of these types of information are also fairly straightforward – answers to certain basic questions such as, are you unemployed, in debt, having outstanding bills on costly credit cards, or close to them. None of this sounds too good for you, so you need to know what is in your credit report to make it be a legitimate and trustworthy indicator of you’re a credit risk.
A credit score is definitely important for many reasons, but the most important reason that people need to consider getting a score is to see how well it reflects your lifestyle and your financial situation. We all like to shop, so why not see what works for us, what doesn’t. Perhaps, now you just need to write us a check, or you could open one of the many public housing trust certificates, which are increasingly being used as forms of identification to collect credit information.
If you find yourself in the “need of credit score but are not sure which bureau to visit,” then here is a guide to getting and maintaining a good credit score.
First you should evaluate your financial status and try to get a score that accurately reflects your financial position. Your low credit line would likely reflect your ability to pay the balance each month – and this is your greatest ability. It’s the key factor that will determine your likelihood of getting or maintaining a stable, income-forward financial position.
Next up is to check your account balances and see if you have fallen on your face recently. Are you still collecting all your credit card debt, despite paying all your monthly installments? Are the accounts you already paying on each credit card in good credit standing?”
This is another factor that can keep you from getting a good and stable credit score. Remember, every credit report takes a snapshot every few months, and the last thing you need is another copy of your credit report that does not meet the criteria that must be met for you to have a low or equal score. Most lenders use the “re-issuing” credit report that has been “approved” by a credit scoring company. The company is required by law to obtain the “re-issuing” credit report from the three nationwide sub-mortgages, and the score they give to you on the form they give you before you apply for a mortgage is their “About Us” page that appears on your credit reports. They guarantee that your score will be as good as that of the credit scoring company, so you should proceed with caution and verify any errors from time to time.
The credit scoring system the United States Government uses to evaluate your credit history is the FICO award-winning Fair Isaac Scores. The FICO scoring system provides you with the specific information you need to know about your financial position – how long you’ve maintained a ratio of good to below 1%. If, for whatever reason, you are not able come to a satisfactory resolution with a credit score, then seek professional help to improve your financial status.
There is no “magic bullet” to obtain a low or a low credit score – everything can fix your score. If your score is just average, you may need to pay off your existing credit cards, so that your score will increase or decrease.