Experian Credit Report - What is a Good Credit Score?

Have you ever wondered why certain people get denied for loans and why other people get approved for them instantly? Have you ever wondered why some people are not accepted for hire by some companies even though they are more than qualified for the job? Unbeknownst to them, it may be the individual's poor credit scores.

Credit scores are an extremely important part of today's world. This particular three-digit number will determine whether you are likely to be accepted on the loan you have applied for, and can determine the trustworthiness of an individual as seen by their potential employer. *www.annualcreditteport.com experian

In the United States, Fair Isaac Corporation or FICO is one of the main credit score models that calculates your credit score. They calculate your Experian credit report by using mathematical formulas from all of your financial activities. It is a calculation that is widely used by lenders, such as credit card companies and banks.

There are a total of three credit reporting agencies in the United States which calculate your overall credit scores, Experian, Equifax, and TransUnion. Each of the reporting agencies calculations will differ, and are updated periodically to reflect your repayment behavior. Also, keep in mind that lenders and creditors can use any of the reporting agencies they prefer.

An Experian credit report is designed to provide information to lending companies regarding whether a particular person will likely be trustworthy in paying their bills. It will also contain reports of your past loan applications.

The credit score ranges vary from 300 to 850. A good Experian credit score is in the 725+ range. By having a high, or at least "good" credit score, you will be able to access low interest credit cards as well as lower interest loans. You will also have a higher chance of receiving cost effective terms with home purchases, as well as automobile purchases. *www.annualcreditreport.com experian

To view your Experian credit report including all 3 consumer credit scores, click below. Your report will be delivered online in an easy to read format.

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