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Although ranges vary depending on the credit scoring model, generally credit scores from 580 to 669 are considered fair; 670 to 739 are considered good; 740 to 799 are considered very good, and 800 and up are considered excellent. Working towards good credit can be daunting, but educating yourself is the first step in the right direction. A good credit score is anywhere above about 670. Your credit score is used to determine your eligibility for cards or loans, so having a good score is vital to get you approved for everything you might need. Unsure where to start with your credit? Start here! This article will tell you all about credit scores and what it takes to get a good one. How does a credit score work? Your credit score is a three-digit number calculated from the information provided in your credit report. Your credit score is used by creditors to determine your likelihood of repaying a loan. A credit score influences how much you can borrow, how long you have to repay said bor...

Credit bureaus , or   credit reporting agencies , are the companies that maintain, collect, and provide consumer credit information to the lenders we use for our credit cards, car loans, mortgages, and other types of loans.  Credit reporting agencies help to measure a consumer’s creditworthiness, which gives lenders an insight into the likelihood of whether or not a consumer will pay their credit obligations on time. CRAs, or credit reporting agencies, compile a consumer’s credit history into a credit report and then sell the information to potential lenders.  What Is a Credit Reporting Agency? As mentioned above, credit reporting agencies are the companies that collect and maintain your credit information. In the United States, the three major credit reporting agencies are Experian, TransUnion, and Equifax. All three of these companies are for-profit, publicly traded companies. You may come across smaller credit reporting agencies, but traditional lenders and creditors a...

Credit repair solution providers can help you fix your credit history and score. They can communicate on your behalf with the credit bureaus and work to eliminate any negative items affecting your credit report. But do they really work? Can credit repair solutions   improve your credit score   in return for a fee? Keep reading to find out. Legitimate credit repair companies can help you by removing inaccurate information from your credit report, though scam agencies posing as  credit repair solution providers  can end up wasting your time, effort, resources, and most importantly, your peace of mind. Understanding the process of credit repair You need credit repair services when your credit score is poor, making it difficult for you to obtain any credit or loan with favorable terms and conditions. A poor credit score also means that you can end up paying much higher interest on your loans even if you somehow secure them from some lenders.  Credit repair involves ...

If you’re looking to fix your bad credit, you may stumble across credit repair services that can help you clean up your credit report. But, what exactly do credit repair service providers do and how do they work? Find all the important details in this blog. What is a credit repair service? A credit repair service is a company you hire to improve your bad credit. It works to remove inaccurate and negative information from your credit report. A credit repair service provider represents you and communicates with credit bureaus such as Experian, Equifax, TransUnion, and other financial institutions like banks or debt collectors.  Credit repair service providers attempt to remove harmful information impacting your credit and fix other financial disputes on your credit report. It can be a time-consuming process, but the ultimate goal is to improve your credit score. It is important to know that credit repair service providers do not help with money management. What to look for when sele...