Credit Rating in a Nutshell

A. To put simply credit rating is how you are seen in the eyes of potential lenders/creditors i.e a banks, phone companies, car dealerships.

Credit Scores Range from about 400-850 with 400 hundred being the bad end and 850 on the excellent side. In a nutshell at 400 you will most likely be instantly declined or if not you will get a deal that cost an arm and a leg and require proof of everything else like your stated income.... If you are at 850 banks will basically give you whatever you want a listen to whatever you tell them without proof- instant approvals.

What you qualify for will depend on your where your score stands, and a few other things such as income, time in the same job industry, home stability, repayment history, and even how long you've had your credit accounts.

Feel free to ask any questions you choose about any topic.

By Omari Whyte