Credit Repair Software - How Is Your Credit Score Calculated?
There is credit repair software that bureaus take into account to build a person's credit history. Erroneous or inaccurate information in any of these parts can harm you. To begin with, you must understand that the personal credit record is the description of your financial movement through the years and that it is scored on a scale of scores. With this credit history, a lender will be able to say whether or not you are a candidate to access a loan. When a person gets less than 700 points, the lenders consider them risky and that there is a high probability that they will not pay their debts on time and, in general, they give them the credit, but with higher interest. How is it calculated? It is divided into five parts: the payment history (pay off debts on time, this represents 35% of the score), the amount owed (30%), age of credit (if a person closes a card that they used for a long time, that makes the score go down), new credits and the variety of credit (credit cards,...