Despite what you may have heard, good credit scores are in abundance.
About half the population has a FICO score above 700.
As the scores go lower, the fewer people you will find.
The lowest scores, below 500, have the fewest number of people.
The highest scores, are comprised of a larger section of the population than the lowest scores.
Even in this economy it is possible to maintain your credit score.
And, you may have a better score than you think.
The score you may have in your mind may have come from part of your credit history, but if you were to go to another source, such as another credit bureau, you may see a completely different score altogether.
This happens because each of the three credit bureaus look at different things to determine your score.
When you check on your credit report, you might order all three of them, one from Experian, one from Equifax and one from Transunion, to have a complete picture of your credit history.
It's important to know what is going on with the credit bureaus; they play an important role in your life.
They are in charge of collecting all the information about your payment history that others report to them.
When you bounce a check, your bank reports it to the credit bureaus.
Conversely, when you make every payment on time to the electric company, this will also be reported to the credit bureaus and recorded on your report.
Your past history has been dealt with in this manner.
The credit bureaus will also be involved in your future transactions.
When you decide to rent a new apartment, the apartment manager will ask to run a check on your credit history.
They do this by going to the credit bureaus and, because they all have their own ways of doing things, they will give their different scores to whoever is asking them.
If your scores are significantly different from each other, it may be better for them to check one report over another, but you will not know which report they will choose to check.
For this reason, it is a good idea to check your credit reports [http://www.
podcastingpossibilities.
com/youtubegeneratestraffic.
com/GoodCreditScore.
html] periodically to make sure that everything is correct on all three reports.
About half the population has a FICO score above 700.
As the scores go lower, the fewer people you will find.
The lowest scores, below 500, have the fewest number of people.
The highest scores, are comprised of a larger section of the population than the lowest scores.
Even in this economy it is possible to maintain your credit score.
And, you may have a better score than you think.
The score you may have in your mind may have come from part of your credit history, but if you were to go to another source, such as another credit bureau, you may see a completely different score altogether.
This happens because each of the three credit bureaus look at different things to determine your score.
When you check on your credit report, you might order all three of them, one from Experian, one from Equifax and one from Transunion, to have a complete picture of your credit history.
It's important to know what is going on with the credit bureaus; they play an important role in your life.
They are in charge of collecting all the information about your payment history that others report to them.
When you bounce a check, your bank reports it to the credit bureaus.
Conversely, when you make every payment on time to the electric company, this will also be reported to the credit bureaus and recorded on your report.
Your past history has been dealt with in this manner.
The credit bureaus will also be involved in your future transactions.
When you decide to rent a new apartment, the apartment manager will ask to run a check on your credit history.
They do this by going to the credit bureaus and, because they all have their own ways of doing things, they will give their different scores to whoever is asking them.
If your scores are significantly different from each other, it may be better for them to check one report over another, but you will not know which report they will choose to check.
For this reason, it is a good idea to check your credit reports [http://www.
podcastingpossibilities.
com/youtubegeneratestraffic.
com/GoodCreditScore.
html] periodically to make sure that everything is correct on all three reports.