Waht is credit score and and how dose it work?

also i recently open a t mobile account and when they checked my credit line they said it was aproved and it is %26quot;B%26quot;

Waht is credit score and and how dose it work?

A credit score is something that shows all the times you%26#039;ve borrowed and payed back money to a company. It%26#039;s a way for other companies to find out if you are %26#039;good for the money%26#039;.

As for the %26#039;B%26#039;, it%26#039;s probably a grade they gave you based on A-F. If you%26#039;re young and haven%26#039;t taken out loans or credit cards, you have a good, but not excellent, credit report.

The system is based on a score of 0-850. The higher, the better. Make your score go up by paying off bills on time, and it goes down if you don%26#039;t pay stuff on time.

Also, if t mobile checked your credit report, you can probably get a free copy of it. If not, go to equifax.com. It%26#039;s a credit report site that keeps track of it.

Waht is credit score and and how dose it work?

Your credit score is made up of the following:

1. Payment history 35%

2. Time in bureau 15%

3. New credit 10%

4. Type of credit used 10%

5. Debt to income ratio 30%

If they said you scored a %26quot;B%26quot; your score is around 600.

Waht is credit score and and how dose it work?

Your credit score is a nationally used formula to assist retailers in establishing a customers risk. Matching social security numbers, birthdates, and last names with every finaincial transaction tracks everyones fiscal record. The record is then put to a point system, with high numbers being low risk, and low numbers being low risk.

Waht is credit score and and how dose it work?

A %26quot;B%26quot; is okay.

A Credit score is a way for companies to weigh you as a risk. The higher the score the better risk you are, or the more likely you are to repay the company granting you credit.

It works by taking a look at your past history, the type of credit you have, how you pay, and a few other factors and rates you as a risk.

Waht is credit score and and how dose it work?

The below article will explain everything you need to know: