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There are two golden rules to operating a small business. Rule number 1: It always costs more! Rule number 2: It always takes longer! These rules are as sound today as they were over thirty years ago when I learned them from a mentor after starting my first business. Not only have they proven accurate in my own experience, but are equally true for virtually every small business owner I have come in contact with at my business funding consultancy firm ever since.

The three - digit numbers, which range from 300 to 850, are the key to your borrowing costs.

If you want to raise or repair your credit score, start pinching pennies and paying your bills on time. In order to repair your credit scores, it’s important to know where you stand currently. The three - digit numbers, which range from 300 to 850, are the key to your borrowing costs. There are certain requirements that you must meet before you will be able to secure a home loan. One of which is that you must possess a good credit rating. However, despite the wide availability of home loans, there are still thousands of individuals who failed to secure home loans merely because they possess a bad credit score. They are not fully aware that any delinquency in paying their outstanding loans caused the stain in their credit record, thus they would be having a hard time securing a good home loan.

• Repair any errors
• Finally they look at just how much credit you have had and what your experience with credit is
• 700-719 - Very Good - Qualifies a person for favorable financing
• The Down Payment Is Calculated Along The Appraised Home Value
• 675-699 - Average - A good credit score that qualify for most loans
• What Are The Qualification Requirements

But those who have a credit score of less than 560 points are perceived by lenders and credit card companies as being a very high risk. For those who do not have a good credit score when it comes to borrowing money for what ever purpose they may find it very difficult indeed. Or they may find that they do get the loan, mortgage or credit card they want but they will be required to pay much more in interest rates on theirs. There are a lot of adverse consequences with having low credit scores. A person rated poorly is likely to have difficulty tapping a bank loan and may find it hard to engage in other commercial transactions. Striving to get good credit scores is, therefore, indispensable. It pays for an individual to be conscious about the evaluation made on him by the so-called credit bureaus.

Record of recent credit history following past payment problems. Re-establishing credit and making payments on time after a period of late payment behavior will help to raise a score over time.. 5. Types of Credit in Use (10% of score). This factor considers your mix of credit types: credit cards, retail accounts, installment loans, finance company accounts and mortgage loans.