![]() ![]() As some creditors became larger and as the number of their consumer credit applications grew, these creditors needed to establish more systematic and efficient methods for evaluating which consumers were good credit risks. ![]() In smaller communities, shopkeepers, bankers, and others who extend credit often knew by word of mouth who paid their debts and who did not. Creditors generally offer credit to those consumers awarded the most points because those points help predict who is most likely to pay back the debt. A credit scoring system awards points for each factor that the creditor considers important. The creditor may examine your past credit history to evaluate how promptly you pay your bills and look at other factors as well, such as the amount of your income, whether you own a home, and how many years you have worked at your job. If you were denied credit because of your credit report, you are legally entitled to a copy of your free credit report. More Pdf – What is Credit Scoring?Ĭredit scoring is a system used by some creditors to determine whether to give you a loan or credit card. ![]() The following questions and answers may help you understand who gets credit, and why. Based on how well you score, a creditor may decide to extend credit to you or turn you down. How does a creditor decide whether to lend you money for such things as a new car or a home mortgage? Many creditors use a system called “credit scoring” to determine whether you are a good credit risk. The Credit Secrets Guide to Building Business Credit: Scott & Alison Hilton: : Books Buy used: 99.99 FREE delivery July 28 - August 2 Or fastest delivery July 26 - 28 Select delivery location Used: Very Good Details Sold by SoBoho Fulfilled by Amazon Access codes and supplements are not guaranteed with used items. Credit Secrets Book Pdf Credit Secrets Book Pdf FTC, OCTOBER 1993 Americans struggling with low credit scores, there has never been a better time for this little-known information to be revealed to the public,' says Scott Hilton, co-author of the book.Credit Secrets also includes an 11-word phrase anyone can use, to put an immediate stop to debt collectors harassing them and their loved ones. ![]()
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