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Generally, all your credit history information, good or bad, remains on your report for seven years. If you file for personal bankruptcy, that fact remains on your credit report for 10 years. |
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A credit rating is an evaluation made by credit bureaus that represent your credit worthiness in a simple manner. The highest rating is AAA, the lowest is D. Your credit score contributes to your credit rating. Click here to view a credit rating chart.
Top Credit Rating Tips from AskMrCredit.com
Credit Rating ChartRating
Mortgage History
FICO Score
Bankruptcy Discharged
Notice of Reinstatement or Foreclosure Sale Date
Maximum Loan to Value
AA
1 x 30
640 or greater
3 years since discharge or ...Read moreEasy ways to establish a good credit historyHere are a few really good ways to establish good credit:
If you are overextended and a homeowner, do what you can to consolidate your debts.
Pay off all delinquent, past due accounts, judgments, ...Read moreCredit ratingA published ranking, based on detailed financial analysis by a credit bureau, of one's financial history, specifically as it relates to one's ability to meet debt obligations. The highest rating is ...Read moreImproving your credit profile: what you can and cannot do Have you ever tried to rent a car or reserve a hotel room without a credit card? If you have, you know how important good credit is. Those without good credit find it difficult to obtain financing ...Read moreWhat are R1 and R9?1. "R" refers to a revolving account
2. "I" refers to an installment account
3. "M" refers to a mortgage account.
These ratings are supplied by the creditor and describe you as a borrower. A ...Read moreChecking Your Credit RatingEstablishing credit and paying off your debt in a timely manner is just part of the routine for maintaining a good credit rating. Once in a while you should check your credit rating. There are three ...Read moreWhat is a credit rating?Your credit rating is drawn from your credit report, which outlines your borrowing, charging, and repayment activities. A good rating helps you reach financial goals; a poor rating limits your ...Read moreCan i ever improve my credit?Yes. It is never too late to clean up your credit or build a credit history. It won’t happen overnight, but you can improve your credit by paying bills on time and not over-using or abusing credit. ...Read moreBuilding a good creditIt is never too late to clean up your credit or start to build a credit history. Once your credit record is on track, you will have access to the financial safety net that good credit ...Read moreConsumer reporting agencies - is there a charge for my report?Sometimes. There's no charge if a company takes adverse action against you, such as denying your application for credit, insurance or employment, and you request your report within 60 days of ...Read more Next 10 Facts >> Showing 1 to 10 of 23 Facts
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How does credit rating work?Borrowers are rated by lenders according to the borrower's credit-worthiness or risk profile. Credit ratings are expressed as letter grades such as A-, B, or C+. These ratings are based on various factors such as a borrower's payment history, foreclosures, bankruptcies and charge-offs. There is no exact science to rating a borrower's credit, and different lenders may assign different grades to the same borrower.
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