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| *Loan,banking and credit>>>credit score |
What is a perfect credit score, how is it acheived, and what are the benefits of having one? |
Thank you! A perfect score is often 850. One of the three bureaus (Experian, Trans Union and Equifax) uses 830 as their maximum score. Bardot09 gave you ways to increase your score and the breakdown to it. I think getting it is extremely difficult. I've been ~800 for quite some time and can't seem to get it above that with no negatives on my file at all. For most banks, insurance companies, etc., having a credit score above 750 is mostly meaningless. At ~720 you enter the highest credit rankings and further improvements aren't really necessary or helpful. Having really good credit helps in many areas. You have already proved that you are responsible with money, so when you go to borrow some, they generally will give it to you (and most likely you aren't asking for too much anyway :-). You will pay less in insurance. You will have no credit issues when you go to get a job, a car loan, a mortgage, an apartment, a new utility account, a new credit card, etc. Hope that helped! I believe the highest score is 850, at least with Equifax. The benefits are that you can get money most anytime you want, since you have proven yourself to be a good credit risk. You will also be able to qualify for the best interest rates on loans. Insurance companies check credit to establish rates. When you have a high credit score, you will receive better rates. hello, When you're trying to build a solid credit score it's important to get a comprehensive view of what is actually effecting it... Your Credit Score (also known as your MyFico score) is calculated with the following breakdown: * 35% - Payment History * 30% - Credit to Debt Ratio * 15% - Credit History * 10% - New Credit * 10% - Credit Types in Use If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score. Now How about You try this: Here are steps you can use to build your credit score quickly. I raised mine to well over 700 points fro 500 using these steps in less than a year -- : 1. Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score monitoring listed on the article below. It really helped my get my score up.) 2. Never Miss a Payment, Starting Today 3. Never use more than 20% of your Available Credit 4. Keep Credit Cards that Have No Annual Fees Open For as Long as Possible 5. Extend Your Credit Limit on Cards You Already Have before You Get New Ones 6. Get Credit Cards that Have CashBack Rewards to Contribute to your Balance 7. Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit- 8. If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan 9. Take out a Small Personal Loan and Repay it Over a Year 10. Ask Someone With Good Credit if They will Account Shadow you I've got a lot of information on my blog about credit scores, and I get a lot of questions so feel free to check out any of my posts on millionster.com; I believe my articles here address many of your concerns but if they don't and you still have any specific questions feel free to leave a comment and I'll reply. How Can I Increase My Credit Score http://millionster.com/articles/debt/ask... Also be sure to check out these useful links I've listed here to help you get a better picture of your creditworthiness: MyFico's Full Credit Report * http://millionster.com/go/myfico... Suze Orman's Credit Report Repair Kit * http://millionster.com/go/suzekit... 30-day Trial of Credit Score Tracker with Free MyFico Score * http://millionster.com/go/fico30... An actual perfect credit score is 700 FICO you ca get all financing you need with a 680. A 680 FICO will be mandatory after the first of this year. I have a plan tog etanyone perfect credit within 90 days. We can also show you how your credit score will make you more money than your job ever will. If there are any questions email me at creditsurgeon@gmail.com |
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