It is very important to keep a good credit score, even in today’s economoy to ensure lower interest rates and loan approval.  A person’s credit score is formulated from FICO, Fair Isaac Corporation, and lets a lender know how reliable a person will be on paying back a debt.  Although it seems that everyone has a low credit score these days due to foreclosures, lenders are still holding people to the same standards as always.  Below details more about what a FICO score is, how the FICO score is calculated, what it means to have a low FICO score and how to keep your credit score high.

 

Filed under: CREDIT REPAIR, LOAN INFORMATION