What is a Credit Score?
A credit score is a numerical expression based on a statistical analysis of a persons credit file, to represent the credit worthiness of that person.
A credit score is primarily based on credit report information typically sourced from credit bureaus. A credit score is a three digit number ranging from 300-850. The lower range of a credit score means that you could be denied credit all together or if they do qualify you as lendable you will be considered high risk and pay excess fees. Insurance companies could demand higher premiums because of a low credit score. Employers are even viewing credit scores to compare how you manage your finances to determine whether you would be a good candidate for the position.
Who looks at your credit report?
Your credit report can be evaluated by lenders, landlords, employers, and others to formulate an opinion of your credit worthiness, financial responsibility, and your overall character
Is your credit score an accurate reflection of who you are?
Millions of Americans have been identified as being a high credit risk simply because their scores are not accurately expressing who they are. Inaccurate credit reporting and erroneous items can cause your credit score to be lower than they should. You have the right to dispute questionable derogatory items in your credit report. J.L. Taylor and Associates, LLC has helped work towards an accurate credit score by assisting them in helping take advantage of these rights.