Everybody has credit and they all make the payments on it to ensure that it does not escalate beyond control. One way to do this is to get a copy of your credit report which will give you your credit score. This score represents your financial situation and your repayment tendency. This score is required if you want to get approval for a mortgage or go in for a car loan or any other loan for that matter.
By knowing your credit status you can save yourself a lot of embarrassment and the possibility of getting rejected outright. A bad score means you probably wont get the loan you are looking for. It is this score that the loan agencies or companies look at and it tells them whether you are a good customer or whether you will probably be a cause of heartache as far as they are concerned. They would rather not touch you if they think you are a potential risk and they will carry out an in-depth background check on your financial condition.
A score that reads something like 700-800 is considered very good and 650 is considered an average score. Anything lower and your chance of approval for credit cards, mortgages and car loans becomes really difficult. If you have a...
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