Settlement Loans

Credit scores sit anywhere between 350 and 850 and the higher the score you have, the better your chances are of getting approved for a credit source.

Your credit score is determined by the information which is placed on your credit report. The information on your credit report is determined mainly by your credit history. The most popular credit score is the “FICO score” which was created by Fair Isaacs Corp and with FICO scores, the score can vary from 300 to 850. Basically, lenders will see those with a low score to be a higher risk and less likely to be responsible to pay the money back and those with a higher score are not much of a risk.
Credit scores range from 350 to 850 - the higher your score, the more favourable interest rates you will receive on a loan. Each credit reporting agency may end up giving you a different FICO credit score but it’d still be roughly in the same range. This is because some information is not provided to certain reporting agencies.

Any mistakes that were make in your credit report can reflect on your credit score dramatically and can affect your chance of getting approved for a loan so it is important that you make sure you clear up any mistakes promptly by sending a dispute letter to the credit bureau that the report is from.