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If you plan to get a mortgage, one of the requirements is a superior credit score. This score is given by a widely-used credit scoring system which is the Fair Isaac and Company (FICO). This score is needed by those who would like to take on a home loan. Being in a good credit score range when it comes to applying for a home loan puts you at a tremendous advantage. A lot of readers asked me, "how to fix my credit the cheapest way possible," This is a great question because the recession is what most likely put a lot of people into this bad situation in the first place. The good news and bad news is the cheapest and fastest way to raise your score is with credit cards. These cards affect your credit score range in two ways; the length the account has been opened, and a ratio of the credit used versus the open credit available.

1. 700-759 = repayment of $1,650 - 5.216% APR


2. Length of credit history


3. 300 to 499 scores bad


4. Whether or not you will be hired for a job you are seeking


5. Types of credit accounts

2,500, AE may be willing to settle the debt for that amount. It'll certainly save them legal fees and the pressure of securing a collection agency. Closing an account that's been pestering you to death doesn't help anything, in fact they're often times still factored into your credit score. The key is dealing with debt. Chances are you're not David Copperfield and that's going to make playing a credit card disappearing act, a difficult feat. nThe FICO credit score range is between 850 and 300. I rarely seen those two frontiers in real life. 850 means you can get a loan to buy entire Tiffany store in Manhattan. nFICO score of 700 and higher means Excellent or Very Good credit. nFICO score from 680 to 699 means Good.

Unfortunately, in our fast paced technology centric society your credit score range means everything to your finances and possibly your quality of life. Lenders, banks, employers, insurance companies and a host of others look at what credit score range you fall within. Lenders and Banks use this to determine if they will actually make you a loan and what interest rate you will receive. The interpretation of the credit score range above is not rigid. Some credit companies may still have a different interpretation for the respective range listed. But strict implementation of the consequent action for each score is necessary in order that the company avoids having bad debts on its financial statement.

In this modern economy, almost everybody is aware of the need for credit.

Your credit score is one of the most important parts of your financial situation. Poor credit can ruin you financially while good credit can do wonders to help you out. When putting together your credit scores range the three main credit bureaus put a lot of things into consideration. They look at you past payment history, credit history, job, income and so many other things. Each category takes a different level of importance depending on the lender. In this modern economy, almost everybody is aware of the need for credit. It is hard to do any sort of business without having access to some form of credit, be it credit cards or loans. Your credit score largely determines what types and terms you can take advantage of. What is the credit score range and what do these numbers mean to your ability to do what you want to with your money,

Payment history and balance amounts are the main criteria making up 65% of the score. Payments that are reported to be always on time with balances that are not maxed out will receive the highest scores. A mix of credit types such as credit cards, installment loans and mortgages are better than just one type as it shows a broad range of credit experience. This comprises 15% of the score.