Credit agencies will calculate your score each time a copy
of your report is requested, based on the information currently
in the report. That means your credit score is likely to fluctuate
from time to time, based on whatever information is currently
being submitted.
An "A" rating will net you extended lines of credit offered
at low interest rates. A "B" or lower rating doesn't necessarily
mean you'll get turned down for credit or a loan, but you
may be approved and then offered higher interest rates than
someone with an "A" score.
The following are some ways to rack up a good score:
- Own your own home
- Live there several years
- Hold your job for a long time
- Carry large balances on your credit cards but make timely
payments
Ways to damage your score:
- Move often and live in rental housing
- Change jobs often
- Pay your bills late
- Pay less than your minimums
For more on your credit rating or to order a credit report
online, check out the MsMoney.com section on Checking
Your Credit History.
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