Credit Scores and Reports — Knowledge is Key!

Aug 16, 2011

Your credit report shows information about how you have used credit, such as how much credit you have, how much of your available credit you are using, whether you have made your payments on time, and whether anyone has sent a loan you owe to a debt collector.A credit score is a number that is used to predict how likely you are to pay back a loan. Your credit score starts with information about you from your credit report. A mathematical prediction formula is applied to this information about you from your credit report. That prediction formula, which is called a scoring model, creates a number which is your credit score. You have numerous credit scores.

Credit scores are used by companies to make decisions such as whether to approve a mortgage at a certain rate or issue a credit card. Different lenders use different scoring formulas so your score can vary from lender to lender. A higher credit score makes it easier to qualify for a loan and means a better interest rate. Most scores range from 300-850. Anything over 720 is considered A+ credit. Do you know your score?

 Remember, knowledge is key!  At Alaris Properties and A+ Credit Consulting (, we offer our knowledge so you will have the keys you need. We are here to help you understand your credit score and how to improve it to your advantage. Alaris Properties and A+ Credit work together so that you have the tools you need to achieve your goals and objectives.

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