How Do You Score?

A couple of months back the way credit records are looked at changed. It used to be that only negative information was stored by the credit file companies, that is info which showed when you were late with or defaulted on a payment. The positive stuff, where make your loan repayments on time month after month, was ignored up until March this year. It’s good news for those who have been diligent with their credit.

Another change that’s come about recently is to do with credit scores. Previously these numbers were only really known to banks and other lenders, but now you can find out your own score online. Punch your details into and a minute later you will be given a number between 0 and 1,200. The higher your number is the more creditworthy you are, or so the theory goes.

I scored below 1,000 which is a bit confusing given I’ve never been late with a payment and promptly paid off any debts I’ve had. So, as with anything you get over the net in 60 seconds for free, take it with a grain of salt.

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