Sentences with phrase «other type of credit score»

Note, other types of credit scores exist, but most lenders use FICO Scores.

However, many other types of credit scores exist.

Mortgage credit scores often look different from other types of credit scores, including the «educational» or generic scores consumers can receive from monitoring services like Credit Karma and other tools and apps.

Banks and other businesses use credit scores to predict the odds a borrower will repay a debt, and although many other types of credit scores exist, the FICO score is easily the one most popular with lenders.

In fact, 90 % of lenders check FICO Scores rather than any other types of credit scores.

While many other types of credit scores are out there, FICO's is by far the one lenders use most to make lending decisions.

Not exact matches

Personal FICO credit scores and other credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit or financing type you are eligible for.

The higher your score, the more likely you are to be approved for loans and other types of credit, as well as to attain a lower monthly payment (and thus a lower cost of borrowing overall).

The type of score you look at matters more if your goal is to get a new credit card, mortgage, or other type of loan.

Other types of loan are also available - if your credit file is less than perfect, and you have a bad credit or low credit score - which potentially could help with repairing your credit file, if you keep up to your contractual payments and make your payments on time.

On the other hand, transferring credit card debt to an installment loan can improve your credit score because it lowers your credit utilization ratio and diversifies the types of credit on your credit report.

In the future, when seeking a loan or any type of business with a financial institution, your credit score and report will reveal your past records and financial history with other credit lenders.

It would be extremely difficult to get approved for a private student loan without a cosigner if you don't have much credit history, so if you can't find a cosigner you will have to build up your credit score with other types of loans first (like loans on college furniture, or even federal student loans — both of which can boost your credit).

Since installment loans lenders consider criteria other than just your credit score when making lending decisions, that might mean that such people are more likely to qualify for this type of loan.

Paying down the balances on other types of accounts will not have the same positive credit score impact as paying down a credit card.

Credit card issuers, lenders and other financial institutions use a variety of different types of credit scores / credit scoring models and other criteria when making a decision about extending credit and the terms of the offer, so having a credit score in a certain range is not a guarantee for appCredit card issuers, lenders and other financial institutions use a variety of different types of credit scores / credit scoring models and other criteria when making a decision about extending credit and the terms of the offer, so having a credit score in a certain range is not a guarantee for appcredit scores / credit scoring models and other criteria when making a decision about extending credit and the terms of the offer, so having a credit score in a certain range is not a guarantee for appcredit scoring models and other criteria when making a decision about extending credit and the terms of the offer, so having a credit score in a certain range is not a guarantee for appcredit and the terms of the offer, so having a credit score in a certain range is not a guarantee for appcredit score in a certain range is not a guarantee for approval.

On the other hand, you can't have a credit score without some type of credit history.

It is a well - known fact that personal credit scores range from 300 to 850, and the higher the score, the better a consumer's chances of getting a personal loan, credit card, or other type of credit.

If you've defaulted on a student loan, you've seen a negative impact on your credit score just as you would with other types of debt.

As we mentioned before, the credit card companies use a variety of different types of credit scores and other criteria to determine if you are eligible for one of their cards so having a credit score in a particular range is not a guarantee that you will be approved for the card or for the terms you applied for.

Again, a reminder lenders, credit card issuers, and other financial institutions use a variety of different types of credit scores and other criteria to make credit and lending decisions, having a credit score in a particular range is not a guarantee that you will be approved for the card or for the terms you applied for.

Although it may not be easy (and can require a bit more legwork), it is possible to get a loan and obtain other types of credit even if you have a bad credit score.

The higher your score, the more likely you are to be approved for loans and other types of credit, as well as to attain a lower monthly payment (and thus a lower cost of borrowing overall).

You'll want to monitor this number because high credit scores help you qualify for loans and better interest rates when you begin to look into other types of loans (e.g., auto loan, mortgages, etc.).

The general idea to keep in mind is that rate shopping for home an auto loans will have less of an impact to your score than comparison shopping for credit cards or other types of credit accounts.

Borrowers with higher credit scores have an easier time qualifying for home loans and other types of financing.

Home equity lines of credit, like other types of consumer debt, also have an impact on one's credit history and score.

The better an individual's credit score is, the easier it is to be approved for loans and other types of credit.

On the other hand, conventional lenders often charge higher upfront costs, add surcharges to the loan for the type of property, credit scores that aren't perfect, and higher loan - to - value ratios.

Credit card companies use a variety of different types of credit scores as well as other criteria to make credit deciCredit card companies use a variety of different types of credit scores as well as other criteria to make credit decicredit scores as well as other criteria to make credit decicredit decisions.

As is the case with most other types of cards, responsible use of a gas credit card will improve your credit score.

In other words, a good credit score is needed to apply for a type of student loan aid that has a less than positive effect on your credit score.

Credit card debt, on the other hand, is a type of unsecured loan that presents a lot less risk because worst case scenario is that your rating and score will suffer a bit.

These types of lenders use other methods besides the credit score for determining your creditworthiness, including your paycheck and work history.

The top credit scores are above 750 and this will qualify you to get just about any type of loan, but lenders will still look at your other financial information before making a decision.

Each of the components to creating a credit score have to do with borrowing money: credit cards, car payments, and other types of loans.

If I had other types of credit, my score would be higher.)

The point is that if you only have credit cards and no other type of credit accounts, then your score could hit a plateau below 850.

Although your credit score is one factor that goes into the decision making process — lenders, credit card issuers, and other financial institutions use a variety of different types of credit scores as well as other criteria to make credit and lending decisions.

These days, other types of businesses — including auto and homeowners insurance companies and phone companies — are using credit scores to decide whether to issue you a policy or provide you with a service and on what terms.

Keep in mind, credit scores are just one criteria that credit card issuers use to determine if you are eligible for one of their credit cards, credit card issuers use a variety of different types of credit scores and other criteria to make credit decisions.

If you want to see how much your credit scores can affect a potential mortgage payment or other type of loan, you can try using this calculator on the FICO website.

Individuals who are in the market to buy a new home, car or any other type of major purchase need to know what their credit score is prior to applying for the financing.

MOST IMPORTANTLY, use ScoreMaster ® before you apply for credit such as a credit card, auto loan, student loan, mortgage, small business loan or any other type of credit to ensure you're applying at your peak credit score.

A credit score of 620 or higher is the recommended minimum you'll need before beginning your property search, though there are FHA loans and other loan types that accept lower scores.

In examining these types of applications, a lender will look beyond your raw credit score to scrutinize your payment history, among other things.

if you count both of the two scoring models, the three different credit bureaus, and the specific credit scores for each type of lender, then we're up to more than 20 different credit scores per person — and more than 30 or 40 if you include the direct - to - consumer scores and other variations.

A bad credit score will impact some types of financial aid but not others.

If the consumer group has its way, we could eventually have free access to the same credit scores lenders use when considering us for car loans, mortgages and other types of financing.

I had a credit score over 800 before I ever had any type of credit other than a credit card.