Author Archives: Elissa

The Credit Scale: Where You Want to Be

It’s important to know how your credit scale can affect you when applying for loans, buying a car, or a home. Money may be needed for other reasons and being able to access it at the right time is vital. The credit scale is an estimation of how credit worthy an individual or business is. It’s based upon detailed analysis of overall personal and financial credit history. The higher the score the more credit worthy. And lenders become very willing to make a loan, extend credit or advance money. Lower scores will mean loan denials or loans granted at much higher interest rates. A person with a low credit scale and score is considered a riskier bet because they may not repay the debt. There are a couple of things that you need to know if planning to apply for any type of credit. First, it’s a good idea for everyone to know what their credit score is, and second, how that score is tallied into the credit scale.Continue Reading