Credit Score ‚Äď What does it mean?

A credit score is not the same as a credit rating or history. All three factors have to be considered by lenders assessing an individual's loan application and suitability for a loan. Credit companies require information from potential borrowers to determine a credit score and rating. ¬ The credit score is used by lenders when deciding about lending money for long or short term loans. ¬ From...

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Ten tips when considering a loan

Making a decision to borrow money through a loan is not easy. ¬ These ten tips when considering a loan can help you get better borrowing value for money. Identify the borrowing purpose. Narrow borrowing parameters. Obtain a credit report from a credit checking agency. Understand what constitutes your credit score. Take steps to improve your credit rating. Compare lending practices to choose...

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How to improve your credit rating

The credit rating is a cumulative score reflecting a person's financial health and ability to repay debts. ¬ Applications for loans may be declined based on an individual's credit rating, making it harder to meet home or business expenses. The higher the individual's credit score, the more likely lenders or creditors are to approve lending, such as for a short term loan. ¬ Each person's...

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