Credit History Worksheet

Research on Credit Score

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A credit score is a numerical manifestation based on research of an individual’s credit files to show the creditworthiness of the individual.It helps lenders to make credit correlated decisions and to determine the type of terms the individual is to get.

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Some of the top factors in ones FICO Score include: unsettled expenses and the payment history of the individual. Some of the actions one should take in order to improve his Fico score include being able to pay his bills on time, he should be able to reduce the amount of debt he owes, setup payment reminders and they you not forget to check their credit report.

Based on a 22 year old man living in California

  Current Estimated Score Range Higher Score Range Lower Score Range
Enter the total cost of credit for each range $18000 $747332 $5700

The credit.com calculator plays a very important role in calculating one’s lifetime cost of debt according to his country’s economy and this enables the individual to choose the kind of life he wants to live..

Dennis, D. M. (2008). The Road To Credit Repair. BookWise Publishing.

  1. The information included in a credit report holds a lot of weight in one’s credit score and they include: an individual’s identifying information, his accounts, payment information, public records, hard inquiries and negative information..
  2. A 60 day delinquency will remain on one’scredit report for seven years then it will be deleted eventually. Some of the steps to take in order to correct a negative history in your credit report include asking for a fresh report from the credit bureau, note the mistakes on the credit report then write a letter disagreeing according to the error made on the report and you should have enough evidence then finally send your mail to the credit bureau.
  3. Surprisingly credit reports are cheap. Funnily enough there is an app for getting ones credit report unlike waiting for mails to reach your door step.
  4. References

Whitelaw, I. (2007). A measure of all things. St.Martins Press.