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 | Thanks for coming by. I was wondering if you could explain a credit score to me? | |
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| Sure thing, I'm your financial advisor for a reason. Your credit score is basically a measure of your likely hood and ability to repay your debt in a timely manner. A positive score will allow you to recieve larger loans, as well as have a higher limit for credit cards. | |
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| If it's so important, how is it determined? | |
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| Credit reporting agencies, ro CRAs will take consider multiple aspects to determine your score. Such as your credit history, whether you have made payments on time or you have a history of missing payments and defaulting on loans. | |
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| If I have a poor credit score how can I improve it? | |
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| Expunging the negative aspects of your credit history is how you would improve your score, unfortunately only time will allow that to happen. Also continuing to make regular payments and consistently, and using your credit sparingly will improve your score. Give me a call if you have anymore questions. | |
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