Previous - 1 - 2 - 3 - 4 - 5 - 6 - 7 - 8 - 9 - 10 - 11 - 12 - 13 - Next
- Credit Insurance
Credit insurance is something that most major credit card companies offer their customers. Like other kinds of insurance, the purpose is to offer you back-up in case of the unexpected. Credit card insurance will ensure that you can pay your credit card bill should you become ill or unemployed, or otherwise unable to pay.
Credit card insurance benefits you, the borrower, and the lender. You gain peace of mind, while the lender gains repayment should you have to default.
- Credit Repair
Credit repair is a term used to describe the efforts made by either an individual or a company to improve a poor credit rating. Usually, this involves creating a payment plan to reduce debt over time. It also may require the debtor to review and change spending habits so that the debt doesn't continue to grow. There are credit counseling services to help consumers eliminate debt and repair their credit rating.
- Credit Report
A credit report is a record of your financial activity generated and maintained by a credit bureau. The credit bureau records your financial behavior and uses this information to assign you a credit score. Your credit score is made available to businesses at their request. Businesses use the credit report to assess whether or not to extend credit to you, and with what terms. Credit reports include your name, addresses both current and past, employment history, taxes paid, information on loans you may have had, any history of bankruptcy, and other information related to your finances.
- Credit Score
Your credit score is a number assigned to you by credit bureaus that is meant to represent your history, and thus your reliability, as a borrower.
Credit scores are arrived at by a complex mathematical process that credit bureaus will not reveal, though it is approved by the Federal Trade Commission. The process involves examining your credit history, credit report, payment history, debts, and other factors. Credit scores usually range from 300 to 850. A credit score of 680 or above is considered good.
- Credit Scoring
Credit scoring is a means of assessing the financial reliability of a consumer. Credit bureaus use three main criteria in arriving at your credit score, which is generally regarded as an objective evaluation of your financial standing. Firstly, the credit bureau reviews your credit history. Next, your current financial status is factored in, including any outstanding balances and loan amounts available to you. Thirdly, the credit bureau looks at your income relative to your current debt to assess your ability to repay the debt.
-
1 -
2 - 3 -
4 -
5 -
6 -
7 -
8 -
9 -
10 -
11 -
12 -
13 -
Next
(4.80 out of 5)