There are a variety of factors a credit agency considers when determining your credit score. While the exact algorithms and computations are closely guarded by agencies, the basic formula is fairly well known.
The most important single factor in determining a credit score is a person’s payment history. Thirty-five percent (35%) of the determination is [...]
If you have put in the hard effort it requires having a solid, high credit score, then use that score to save money whenever possible.
The most obvious and immediate advantage to those with a high credit score is that they can receive favorable loan terms, especially for cars and homes.
When you are ready [...]
There are two types of inquiries that a bank, credit card company, or other potential loan originator can make on your credit score.
These are called either a “soft hit” (”soft inquiry,” “soft pull” or “soft credit check” are synonymous terms) or a “hard hit.” (again, “hard inquiry,” “hard pull,” and “hard credit check” mean [...]
It is extremely important to regularly get a copy of your credit report from each credit bureau so that you can see if there are any mistakes on those reports.
Even a simple mistake like the wrong address or even the wrong house number on your address can lead you to being turned down for [...]
The easy answer to this question is no, your job does not directly influence your credit score. The complete answer to that question may be more complex, however.
For example, in Canada, a person looking for an automobile loan may find that (s)he is evaluated on a variety of factors, including the duration of their [...]