Credit Score Rating Chart -
Clued Up On Credit Ratings

Credit score rating chart - you need to know how your credit rating works and you must be aware of factors that may influence your credit rating score scale.


In this case, your financial knowledge, means that you will be forewarned should you ever find yourself experiencing cash flow problems.

So, make saving wise decisions today and maximize your positive your credit rating score scale in the future.

The "confirm and alert" checklist below will give you a very good idea of what to look for ... so that your credit rating will be up to scratch should you perhaps wish to invest in rental property or start on your beginners guide to investing.


Your credit rating score scale isn't generally fixed and cast in stone and with the current recession you need to have responsible and credible financial records.

Prospective companies or banks will evaluate your potential to borrow money from them by collecting certain information about your credit risk or credit potential.

The companies will look at:

-the application form that you completed for them;

-whether you have a history of making the minimum mandatory payments required on other accounts of loans;

-previous financial records that you may already have with them;

-any files that may be held by credit checking agencies;

-typically information on mortgages (they prefer stability and moving too often won't help your credit score rating chart);

-your  credit card debt  and overdraft facilities;

-whether you are employed or self-employed and

-whether you have too much credit.

They will also look at how well you manage your accounts -

- do you make minimum or full payments?

- do you pay late or miss payments?

- do you frequently apply for credit?

Based on the information at their disposal, each company will make their own credit assessment based on their own criteria.

(So, since you don't have one standardized credit score, you may be rejected by one company or bank and accepted by yet another - so be prepared to do your due diligence and research)

If you want to check credit report rating you need to write to credit reference agencies and ask them for any information that they currently hold on you.

Remember to include you name, address, date of birth and your previous addresses.

It is always a good idea to confirm your credit file every eighteen months or so - firstly to confirm that all the data that they hold on you is in fact correct and secondly to alert the credit agencies to any fraudulent applications that others may make using your name and details.

Should this situation arise - then you should immediately write to the agency and ask them to rectify the incorrect information or alert them to the fact that a credit card fraud alert may have been made on your name.

Now is the time to be particularly responsible about your financial records to safeguard your credit score rating chart for future years.

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