Credit Scores and Reports

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  • Why did the bank not allow me to take a loan?
  • BANK
  • That's what I need? How do I check my score and make it better?
  • CAFE
  • The bank gave me my loan! its because I have a great credit score!
  • A credit score is a number assigned that indicates your ability to pay back a loan. Take a walk with me and I'll explain how to get a good score.
  • CAFE
  • Excuse me, how did you get such a good credit score? And what is a credit score?
  • Well there are 3 CRA's, Equifax, Experian, and Transunion. Credit reports are created by the CRA. You can get one free credit report from each once a year. Each report may vary but they all contain roughly the same score usually between 300 and 850. Each report also contains info like your SSN Credit acct., and personal info.
  • To build your score, pay your bills on time all the time! Any late bill will affect your score for 7 years! Maintain reasonable amounts of available credit. Apply for credit sparingly and have a mix of different credit accounts. Lastly, don't have too many of one type of account!
  • Thank you so much! Now I can work on my score and make it better so I can get my loan!
  • You're very welcome! It was nice to help someone who needs it.
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