Whether youre trying to get a mortgage, personal bank loan, car finance, company loan or just about any other sort of loan, it could be very hard to get authorized with a negative credit history. Therefore, its super vital that you get the credit file into very good condition before you apply.
What’s a credit history?
A quick rundown on what a credit score actually is before we dive into what makes a credit score good or bad, first heres.
Fico scores in a nutshell:
Simply put, your credit score or score is actually a quantity between 0 and 1,000 (or 1,200 with regards to the credit scoring agency) thats on the basis of the different individual and economic information discovered inside your credit file such as for instance whether you spend your bills on time, how many times you spend them or if youve paid them after all. Read more