1. Latest News
  2. Submit Press Release
  1. PR Home
  2. Latest News
  3. Feeds
  4. Alerts
  5. Submit Free Press Release
  6. Journalist Account
  7. PRNewswire Distribution
Bad Credit MD Logo

How Credit Scores Are Calculated

CreditMD explains how credit scores are calculated under the FICO and Vantage scoring system.

FOR IMMEDIATE RELEASE

 
 
How Credit Scores Are Calculated
How Credit Scores Are Calculated
PRLog (Press Release) - Jul. 15, 2012 - Credit scoring is a system creditors use to help determine whether to give you credit. It also may be used to help decide the terms you are offered or the rate you will pay for the loan.

Information about you and your credit experiences, like your bill-paying history, the number and type of accounts you have, whether you pay your bills by the date they are due, collection actions, outstanding debt, and the age of your accounts, is collected from your credit report. Using a statistical program, creditors compare this information to the loan repayment history of consumers with similar profiles. For example, a credit scoring system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points, a credit score, helps predict how creditworthy you are and how likely it is that you will repay a loan and make the payments when they are due.

Credit MD, a  free On-line information guide that helps people that have bad credit in the United States, Canada, Ireland, United Kingdom, India, South Africa, Australia, and New Zealand explains to consumers how credit scores are calculated and has some helpful tips on how to improve them at http://www.badcreditcheckingaccounts.info/creditmd/howcre...

To improve your credit score under most credit scoring models, focus on paying your bills in a timely way, paying down any outstanding balances, and staying away from new debt.

Bad Credit MD has been in business helping consumers with bad credit since April of 2007 and is a subsidiary of Enticing Designs Publishing.  The staff has various  backgrounds in the financial and mortgage industry.  This self-help site has over 500 pages of credit advice and articles.  Its staff has researched its information with various governments around the world to provide the most comprehensive and accurate information free of charge.  

To inquire about Enticing Designs Publishing please contact us at help@enticingdesigns.us.

Photo:
http://www.prlog.org/11924796/1

--- End ---

Click to Share

Contact Email:
***@enticingdesigns.us Email Verified
Source:Enticing Designs Publishing
Country:United States
Industry:Finance
Tags:credit scores, bad credit, financing, credit report
Shortcut:prlog.org/11924796
Disclaimer:   Issuers of the press releases are solely responsible for the content of their press releases. PRLog can't be held liable for the content posted by others.   Report Abuse

Latest Press Releases By “

More...

Trending News...



  1. SiteMap
  2. Privacy Policy
  3. Terms of Service
  4. Copyright Notice
  5. About
  6. Advertise
Like PRLog?
9K2K1K
Click to Share