What is FICO?
FICO stands for Fair Isaac Corporation . It was established in 1956 by an engineer and a mathematician. This is the method that is still used today to calculate your credit worthiness.
Your FICO score can be divided into about five major factors. Those factors include your payment history, the amounts owed, how long you have established your credit history, the amount of new credit/debt you have and the types of credit cards you are using. The two factors that accounts for the major part of the decisions to approve or deny your credit applications are your payment history and the amount of debt you have. These two alone account for more than 60% of decisions to extend credit when reviewed.
Not only do lenders look at your FICO score, but they take a few other factors into consideration. Those things include your employment history and your income. Creditors look for stability when comes to your employment and they weigh out how much debt they believe you can handle with your given income.
Take time to evaluate these key factors and you will have a general idea of what you are facing when it comes to your credit worthiness. Contact Reflectionz Real Estate for a credit counseling session with one of our Credit Specialist for a detailed review of your personal situation.
Sunday, March 1, 2009
Monday, February 16, 2009
What about your credit?
Your credit rating is one of your most valuable assets. In today's society, a great rating is the answer to a great career, a great home and a great future. Without a high credit rating, just about everything you have is at risk.
There are three major credit bureaus. They are Transunion, Equifax and Experian. These credit bureaus are charged with keeping an accurate record of any and all of your accounts and your standing with the companies who have extended you a line of credit. Accordingly, these reports are updated on a monthly basis (usually by the 7th of the month).
Many of us do not keep track of the information posted by these bureaus. This is a very big mistake. Although most of the information contained in these reports are accurate (or very close to accurate), there are plenty of times where the information on these reports is incorrect or outdated.
You have the opportunity to receive a free copy of your credit report every year. Take advantage of this opportunity and monitor your credit report often to ensure that the information is accurate to the best of your knowledge.
Check back this week for some very detailed information about your credit and the information contained in each report!
Knowing your credit status is knowing your future!
There are three major credit bureaus. They are Transunion, Equifax and Experian. These credit bureaus are charged with keeping an accurate record of any and all of your accounts and your standing with the companies who have extended you a line of credit. Accordingly, these reports are updated on a monthly basis (usually by the 7th of the month).
Many of us do not keep track of the information posted by these bureaus. This is a very big mistake. Although most of the information contained in these reports are accurate (or very close to accurate), there are plenty of times where the information on these reports is incorrect or outdated.
You have the opportunity to receive a free copy of your credit report every year. Take advantage of this opportunity and monitor your credit report often to ensure that the information is accurate to the best of your knowledge.
Check back this week for some very detailed information about your credit and the information contained in each report!
Knowing your credit status is knowing your future!
Tuesday, January 6, 2009
What to expect from this blog
Why did we create this blog?
Reflectionz Real Estate wants to communicate with everyone; whether you are currently in the market for your new home, looking for useful credit information, or just want to keep abreast with what we are doing.
Who will be providing the information to the public?
Everyone at Reflectionz Real Estate will play a part! Our consultants are all very knowledgeable and they are here to help you. We regularly attend conferences and seminars so that we are able to provide you with the most up to date information in the real estate market. We also research on a daily basis to provide the best possible credit solutions.
What if I am not ready to buy a house, but I am still looking to improve my credit rating?
We understand! No matter your situation, Reflectionz Real Estate is here to help. We have a dedicated team of credit analysts that can assist you in every aspect of your credit reconciliation process.
Reflectionz Real Estate wants to be there for you. Please take the time to visit our website at:
www.reflectionzrealestate.biz
There, you will find more detailed information about our services.
Still have questions?
Email us at:
reflectionzrealestate@yahoo.com
Or call us at:
(678) 862-2480
Reflectionz Real Estate wants to communicate with everyone; whether you are currently in the market for your new home, looking for useful credit information, or just want to keep abreast with what we are doing.
Who will be providing the information to the public?
Everyone at Reflectionz Real Estate will play a part! Our consultants are all very knowledgeable and they are here to help you. We regularly attend conferences and seminars so that we are able to provide you with the most up to date information in the real estate market. We also research on a daily basis to provide the best possible credit solutions.
What if I am not ready to buy a house, but I am still looking to improve my credit rating?
We understand! No matter your situation, Reflectionz Real Estate is here to help. We have a dedicated team of credit analysts that can assist you in every aspect of your credit reconciliation process.
Reflectionz Real Estate wants to be there for you. Please take the time to visit our website at:
www.reflectionzrealestate.biz
There, you will find more detailed information about our services.
Still have questions?
Email us at:
reflectionzrealestate@yahoo.com
Or call us at:
(678) 862-2480
Friday, January 2, 2009
Who are we?
Reflectionz Real Estate is a family owned and operated organization. We are here to service the needs of individuals and families looking to make a fresh start.
There are so many real estate agencies that have long been established and pride themselves on services supplied to people who have that perfect or near perfect credit rating and the money to go along with it. The industry did not need another one of those!
Reflectionz Real Estate caters to the needs of those whose credit is flawed from past mistakes. We believe that everyone deserves a second chance. We also pride ourselves on the services that we provide to those looking to establish credit. Everyone needs a sound foundation and that is what we are here to do!
You may ask:
How is it that Reflectionz Real Estate can be a growing business when their focus is on those who may not have a lot to invest initially for the home of their dreams? How can Reflectionz Real Estate trust the clientele they are working with to keep their agreements pertaining to payment terms?
Here is our answer:
We are not here to judge! We evaluate to needs of our clients against what they desire and form a contract based on what they can afford. We do not allow anyone to get in over their heads. There is no fine print! We believe that as long as we are up front with you, you will be up front with us!
Reflectionz Real Estate believes in you! Let us show you what we can do!
There are so many real estate agencies that have long been established and pride themselves on services supplied to people who have that perfect or near perfect credit rating and the money to go along with it. The industry did not need another one of those!
Reflectionz Real Estate caters to the needs of those whose credit is flawed from past mistakes. We believe that everyone deserves a second chance. We also pride ourselves on the services that we provide to those looking to establish credit. Everyone needs a sound foundation and that is what we are here to do!
You may ask:
How is it that Reflectionz Real Estate can be a growing business when their focus is on those who may not have a lot to invest initially for the home of their dreams? How can Reflectionz Real Estate trust the clientele they are working with to keep their agreements pertaining to payment terms?
Here is our answer:
We are not here to judge! We evaluate to needs of our clients against what they desire and form a contract based on what they can afford. We do not allow anyone to get in over their heads. There is no fine print! We believe that as long as we are up front with you, you will be up front with us!
Reflectionz Real Estate believes in you! Let us show you what we can do!
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