Posts Tagged ‘good credit’

Compute Your Credit Score and Get a Loan Now

March 3rd, 2010 24 Comments
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One of the most essential and important information to a bank or lender would be your credit score.  The credit score is important because it is made the basis for most of your loan transactions with any bank or lender.  Depending on your credit score, it is either you will have access to a good loan if your score is pleasing to the banks and on the other hand your loan may be disapproved , or  you might have to turn to a non-conforming lender and pay an extremely high interest rate because of a very low credit score.

Thus, if you want to get a good and reasonable loan, you should try to get a good score.  However,  the problem is that there are times when you don’t know what information is used in your credit score in the first place.  The most basic items that would come to mind are how well you pay off all your loans, how well you pay off your bills, whether or not you pay your credit card bills.

Assuming that you do fairly well in paying those items just enumerated?  Do you immediately get a good credit score.  Not necessarily.  There are a lot of other items that banks and lenders look into.  Some of these other items are the amount of savings, are you self-employed, are you a regular or casual employee, do you have other jobs, and the list goes on and on.  With so many factors to consider it can be difficult to determine your credit score on your own.  You may be factoring in certain items that should not be included, and are often not considered by banks in the first place.  You may also be leaving out vital information that banks look for that could improve your credit score.

Fortunately there is a team of experts who can provide you with vital information on loans and your credit score.  With a free credit score test that they have provided you can get a good idea of what your credit score is, and try to improve on that score before any actual loan applications are filed.  With their experience in the loan industry they have a clearer and better idea as to what banks tend to look for and consider in any loan that they would like to grant.