Some people are terribly affected by a bad credit score. But, we can’t say that everyone has done a mistake. The lack of knowledge is also a reason to get into trouble. As one of the best credit repair companies in Orlando, we would say knowing about your credit score is very important. This knowledge would help you take better decisions in your future. Just gather some knowledge here…
When it comes to calculating your credit score, there are five factors that are taken into consideration. Do you know them all? Well, if not, know them here:
A Score of 700:
As you might be already aware, 700 is the credit score of an average U.S. citizen and yes, this is regarded as a good score. This can be applied to a score from 670 to 739.
Knowing Credit Scores:
You know your credit score? If not, then you are not alone. A report says that 3/5 Americans are not aware of their credit scores, which means almost 60% of the people don’t know their score.
Errors on Credit Reports:
Remember, your credit report may not be equal to your credit score. It has been reported that almost 20% of the credit reports have errors of some sort. This is why we stress the people to make use of your right to get a free copy of annual credit report and get it reviewed by a professional.
Credit Report is not Credit Score:
Also, remember, reviewing your credit report won’t give you access to check your score. If you want to know, get your credit card statements and get subscribed to a credit check website. Alternatively, you can talk to the credit union or your bank.
If you need further clarification about your credit score, feel free to contact us here.