Friday, July 25, 2008

Credit Reports and Score

Paying debt on time has the greatest positive impact on credit score. I say, this is one of the most important thing to keep an eye when obtaining credit. Credit score affects many aspects of life. Basically, if you apply for a credit card, mortgage, car loan, or insurance, your application is being partly judged by your credit score. Business lenders use your credit score to determine whether to grant credit and at what cost. Thus, the higher the score, the more likely you are perceived to repay the credit and the lower of score usually are seen as higher risk and may pay a higher interest rate or are denied credit.

Though we are on these age, some people are still ignorant of what a credit score is and what their score.

Credit Score is a numeric presentation of financial responsibility based on credit history. It is calculated by several factors including an up-to-date data about you as a consumer, amounts owed, types of credit in use, how much your salary is and whether you pay your bills on time or not.

I believe that understanding what a credit score is and how your score is analyzed is a good step towards boosting your credit score. To get a better status of your credit, make sure to use the free credit report and score offered by Union Credit Report. Visit
to learn more about the tips and useful advice to maximize your score.