How to build your credit using credit utilization (credit repair tips)

Описание: In this video, you will learn about what is credit score, how a credit score is determined & how to increase the credit score. After watching this video, you will know how to increase your credit score without spending a dime. At the end of the video, based on my banking experiences, I will share a surprising bonus fact.

Without a good credit score, you can’t get a home loan, car loan, or any personal loan. Certainly, you will be paying a higher interest amount in your loan repayment, or you might not get a federal job. So, you must learn to boost your credit score.

So what is a credit score? You can say that it’s a trust score. Bank uses a number that basically tells you how trustworthy you are in the eyes of the bank.
A credit score is based on the history of credit, like the number of open accounts, overall debt amounts, repayment history, and other variables. To determine the loan repayment ability of a person in a timely manner, lenders tend to use credit scores.
A credit score is the number between 300-850 which depicts the creditworthiness of a customer. The higher the score, the better face value the borrower can create in front of the potential lenders.

Put another way, a credit score of 700 or above is usually considered good and can result in a lower interest rate for a borrower. So, the borrower will have to pay fewer interest payments over the life of the loan.
Scores higher than 800 are regarded as outstanding. According to Shift, 21.8% of Americans have a credit score higher than 800. Although each lender determines its own credit scoring ranges, the average FICO score range is also used.

Watch the complete video to discover how a credit score is determined, and how to improve your score fast.

Check out our Books.

Stock market investing: https://amzn.to/3hsbVFi

Cryptocurrency Investing: https://amzn.to/3npecFf

Passive Income Ideas: https://amzn.to/3E9DeOu

Small Business accounting: https://amzn.to/3A3fadE



Disclaimer:
The purpose of this video is to educate you. This video is for information purposes only. This video doesn't provide any financial advice specific to your situation. This channel doesn't organize any part-time or work-from-home jobs for people. This video might have an affiliate link. If you click through this link and purchase, we might receive a small commission.
#creditscoreincreasetips