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Credit Rating

Your credit rating is very similar if not the same thing as your credit score, depending on who you talk to. Your credit rating affects the way lenders think and act towards you. A lender can decide whether or not to give you a loan depending on what your credit rating says about you. A credit rating system awards points for each factor that helps predict who is most likely to repay a debt. A total number of points -- a credit score -- helps predict how creditworthy you are, that is, how likely it is that you will repay a loan and make the payments when due. Because your credit report is an important part of many credit rating systems, it is very important to make sure it's accurate before you submit a credit application. A credit rating is based on real data and statistics, so it usually is more reliable than subjective or judgmental methods. It treats all applicants objectively. Judgmental methods typically rely on criteria that are not systematically tested and can vary when applied by different individuals.

Because your credit report is an important part of many credit rating systems, it is very important to make sure it's accurate before you submit a credit application. A credit rating is based on real data and statistics, so it usually is more reliable than subjective or judgmental methods. It treats all applicants objectively. Judgmental methods typically rely on criteria that are not systematically tested and can vary when applied by different individuals.

You can get your credit rating from any of the three major credit reporting agencies. These agencies keep track of your credit rating. Your credit rating may also be available to you when you get a copy of your credit report. Learn your credit rating so that you can find out what it says about you and what you could do to possibly make it better.

Credit Rating Score | Free Credit Rating