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Understanding Your Credit Score

Posted By ivanpw 471 days ago on Business - If you happen to be a person who generally takes up bank loans, then you’d perhaps be aware of the significance your credit score holds. Simply put, credit score is a numerical expression of a person’s creditworthiness. Credit scores allow lenders to access the borrower’s financial soundness.

What is categorized as ‘good credit score’?
Generally, a credit score in excess of 700 is considered ‘good’. If your credit score is over 850, you will fall under the “excellent” category. A credit score of below 600 is considered “poor”. If availing credit facilities at cheaper interest rates happens to be your goal, then maintaining a credit rating of over 750 is advisable.…
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