31-May-2015 written by : FSI-Team
Credit score is calculated on the basis of the debts that you pay, how long you take to pay them, how long do you take to pay off your loans, is there any credit that you are still to pay off, how often do you keep your bills pending. All these smaller and bigger things are combined together to rank you with a score which can range from anywhere between 0 to 1000. This is your credit score. Before giving you any debt, the debtor or bank for that matter tends to check out your credit score. This credit score actually determines your financial trustworthiness. Based on these scores they further decide whether it is safe to provide you with credit or not.
It is highly advisable to keep your scores good enough otherwise you might face hurdles in almost all the walks of life. Be it a new house, car, job or the survival of your family, a bad credit score can definitely create unbeatable obstacles hampering the smoothness of your achievement. Thus, check your score today and act upon it on every possible way.