Credit Check
This is why you should check your credit ratings
Loans and other credit products rely significantly upon your credit scores. And in some situations, these scores can even impact your ability to qualify for a merchant cash advance. Therefore, we recommend that as a business owner that you use a monitoring service that can make you aware of changes to your FICO ScoreCredit Score
If you simply want to check on your FICO score, it is advisable to check your using various services available on the marketplace for modest fees. There are even some free credit check services available. Many news sources have written about what makes up a credit score, including the Wall Street Journal and MSN Money, to name a few. We'll summarize a few aspects of the FICO score here. FICO score is a three-digit number that suggests the creditworthiness of an applicant for a loan. The range spans from 300 to 850 and is calculated by Fair Isaac Corp using information form Equifax, Experian and TransUnion.- 35% of the score is based on your payment history
- 30% is based on amount of debt owed
- 15% is based on the length of the credit history
- 10% is based on new credit accounts recently opened
- 10% is based on the kinds of credit used and the mix thereof.
So, when you view your FICO® Score & Credit Report
, these percentages would be reflected in your overall score.
Other related links:
Equifax Canada
Clean Up Your Credit Score Today !!
Don't Know Your Credit Rating?
If you do not know your credit rating, or you don't know where to start, its no problem. You can simply apply now online, and we'll determine what program is most suitable.
An alternative to this approach - and one that you can do online - is to get a free credit estimate, and then use this information to determine which of our five types of programs is most likely to fit. Additionally, you can learn about how FICO scores work by reviewing our page about FICO and Credit Scores. |
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