What is a Credit Rating and How is it Established?
A credit rating is simply someone’s assessment of how well you would be able to pay back money lent to you. Usually, that “someone” is a credit reporting agency; however, creditors themselves will also make their own assessment, which is usually based on the score you receive from the credit reporting agencies and is determined by requirements that vary a great deal from one creditor to the next. How to establish credit How to Increase Your Credit Score Credit cards are often the first step for a consumer to build their credit score. Discover how to safely and effectively use your credit cards to build credit. Increase credit score Increase Your Credit With Credit Cards In order to build and maintain good credit, you must select, use, and pay on your credit cards, and other loans, wisely. Each step is important. Put them all together and your credit rating should rise. Credit cards and your credit Credit Terminology When dealing with credit, there are a multitude of terms that you shou
