What is a good credit score and how do I get one?

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4 Answers

Perry Nuttal Profile
Perry Nuttal answered

By getting in debt.

Tom Jackson Profile
Tom Jackson answered

The FICO score range is 300 – 850, with the higher number representing less risk to the lender or insurer. Consumers with high FICO scores (usually around 760 or higher, though every lender is different) are likely to get the best rates when they borrow, as well as the best discounts on insurance.

There is a popular FICO score chart that describes the main factors that go into these scores:

Payment History (35%)

Debt/Amounts Owed (30%)

Age of credit history (15%)

New credit/inquiries (10%)

Mix of accounts/types of credit (10%)


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Tom Jackson
Tom Jackson commented
VantageScore first exploded on the credit score scene in 2006 as a joint venture of the big three credit bureaus – Experian, Equifax and TransUnion – and now has the distinction of being one of only two scoring models, the other being FICO, to be relied upon by lenders in their lending decisions. VantageScore currently claims about 10 percent of this hard-to-crack market for credit scores used in the lending industry, with the greatest adoption seen in the largest banks and lenders.

Similar to the way Federal Express eventually became FedEx, the company that develops FICO scores used to be called Fair Isaac Co. It was often shortened to FICO and a few years ago that became the official name.
To create credit scores, they use information provided by one of the three major credit reporting agencies – Equifax, Experian or TransUnion. But FICO itself is not a credit reporting agency.
Though FICO scores are the most widely used among lenders, there are other scores lenders can choose from, such as the VantageScore which is becoming more widely used.
Franklin Houser Profile
Franklin Houser , [email protected], answered

To follow the due process, it would atje you about 2 years to reach that, depending on the method you want to use.

You could make us of trade lines

you could also reach out to a family member who has an high credit score to add you to their age old credit card with a zero balance, but that would on increase your credit score by 80 points.

You can also reach me on my profile for more personal requests, if you would like to increase your score through my personal methods.

The process is really straightforward. All outstanding debts and charges will be marked as paid and cleared on all credit bureaus as well as the institutions owed.

This is a server function and will take 5 days as it's incredibly hectic.

We will run some penetration testing first before gaining access to the databases and clearing the discrepancies.

However, this will not be the end of it. Your maxed out cards will have to be fixed about twice or thrice also to boost the score before the final upgrade.

If you by chance, not have cards it would be a whole different process. And future conversations would be made concerning that.

The reason we don't just go straight to upgrading the score is cos the info is updated daily on the credit servers as well the institutions owed and if one side is marked as paid and the other still says that you owe, that will be a problem.

For more personal requests kindly reach out to me.

email in my bio beside my name,

Cheers

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