A credit score is also commonly known as a FICO score. The main rules for score determination were created by the Fair Isaac Corporation (FICO). There is more than one way to determine a credit score. However, the FICO method is the one most commonly used by lenders. The purpose of the credit score is to assess the risks in granting a loan. Get monthly credit scores and monitoring from a trusted provider. Compare plans here. https://www.smore.com/ytcu8-the-best-credit-monitoring-services

Credit Score Interpretation

In order to interpret a credit score, the first item is to determine the type of score used. FICO scores are used by Equifax and TransUnion with a lengthy history behind its use. The less popular "PLUS" scoring system is used by Experian. However, all three companies also use VantageScore, which is a competing system with FICO. Additionally, other scoring systems include: "Score X" from Experian and "TransRisk" from TransUnion. These are considered educational scores, which are not used for loan underwriting. Their purposes are to provide score calculation insight.

In the U.S., the range for FICO scoring is from 300 to 850. The median FICO score for Americans is 723. Scores that are below 600 are considered to be high risk borrowers. A score of 650 is considered an average credit-user, while above 690 is considered excellent. A credit score is based on outstanding debt, new credit, payments and credit currently used. The Experian PLUS credit scoring system has a range of 330 to 830. The VantageScore system has a range of 501 to 990.

How Credit Scores Are Calculated

Since the FICO score is a proprietary tool, the Fair Isaac Company doesn't indicate its exact calculation formula. However, it's known that the calculation is divided into five categories. These are: amount owed (30%), payment history (35%), new credit inquiries (10%), credit history length (15%) and credit type (10%).

How well prior debt obligations are met is illustrated in the payment history. Payment problems, such as bankruptcy, delinquencies and collection will also be shown in the payment history. Various considerations will be given to problem issues. These are: the amounts that were involved, the timeframe of resolution and when the problems occurred. The greater the number of problems, the lower the credit score.

The amount owed to lenders will focus on different items. These will include the owed amount, account types and the number of accounts. This will outline the current financial situation. An overall large amount of debt from different sources will adversely affect a credit score.

Other credit score categories are relatively straightforward. For example, the longer a good credit history is maintained, the better. A twenty-year history of on-time payments will be considered better than a two-year history. Too many applications for credit may indicate financial distress. Therefore, each credit application will lower the credit score slightly. Possession of a single credit card is considered less of a risk than multiple cards. In general, a large number of credit accounts will lead to a lower credit score.

Other Determining Factors

A credit score is based only on the items that are contained in the credit report. This means that there are other factors that might be considered by lenders. For example, the length of employment and current income are not reflected in a credit report. A lender will consider lengthy employment, with a good salary, a major factor when extending credit. Type of employment may also be considered. For example, a physician may be considered a better risk than a seasonal construction worker.

However, credit score are key tools for lending agencies. Therefore, it's important to review it and maintain it periodically. This can be done by checking one's credit report for any errors.


Evaristo Tree Services in San Diego Ca

Sat 06 January 2018 by AbadAdmin

rotting tree for removalIf you're looking for a tree service company that works relentlessly to serve your needs, you have come to the right place. Our tree service crews are fully licensed and insured to meet all of your tree care needs. Surprisingly, many tree service companies do not carry crews that are licensed and insured. Other tree service companies also tend to cut corners or leave debris on your property. As a leading tree service company, we do not operate that way because we respect our customers and their property.

Tree removal is a big part of our business. In most cases, trees are removed because there is a risk they may fall down. Trees that are dying, diseased, or severely damaged due to storms need to be removed to avoid the risk of the tree coming down on its own. While tree removal may seem like an easy task you can handle on your own with an axe and some rope, it is very dangerous to attempt this on your own. Hire a tree service expert to avoid possible injury or even death. Tree removal services are more affordable than you may think!

Trees with failing limbs can often be removed without compromising the entire tree. We use a "cabling and bracing" technique to support the tree where limbs have been removed. We also use this process for weak but healthy limbs that have not fallen. If you think you have a limb that is susceptible to damage or failure during inclement weather, contact our tree service removal company to see what can be done to save your tree or its limbs from causing possible damage or injury to you and your property.

Evaristo Tree Service also provides stump removal services. In most cases, stump removal is done only for ...

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