Every lender will lend to you according to your credit rating below is a
simple credit rating chart. Note: this chart will not effect chances of
loans, many additional factors apply, including, equity, salary and etc.
Applying for multiple loans and credit card will appear on future credit
Credit rating is base on past delinquencies, derogatory payment
behavior, current debt level, length of credit history, types of credit,
number of inquiries.
||Approval can be quick
|Below 680 but above 620
||Approval can take a day or so
||below 620 may not qualify of the best loan
rates and terms offered, my have to pay a higher interest rate, due
to high risk.
|Errors: Fair Credit Reporting Act,
to dispute the accuracy of information in your credit report.
When a credit agency receives a dispute, it must reinvestigate and
record the current status of the disputed items within a
"reasonable period of time," unless it believes the
dispute is "frivolous or irrelevant." If the credit
reporting agency cannot verify a disputed item, it must delete it.
|Big three Credit Bureau Below
PO Box 105873
Atlanta, GA 30348
PO Box 8030
Layton, UT 84041-8030
PO Box 390
Springfield, PA 19064
Business Credit Reports