• boost my credit

Earn Rewards

  • Join our community
  • Refer our club
  • View our programs

24 • How is my credit measured?

risk assessment

Lenders regularly report your payment behavior to the credit bureaus whose computers assess your regularity and timeliness according to an evaluation of this pooled information. Your subsequent credit score is a numerical expression based on a statistical analysis of your accumulated credit files, which then represents your creditworthiness. The computers only analyze hard data according to a programmed algorithm so if you follow a strategic plan for paying your obligations in a certain timed way you can gain the most favourable advances to your credit score.

Credit scores are used to evaluate the potential risk posed by lending money to specific consumers and to mitigate losses due to bad debt. Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and at what credit limits they are willing to offer. Credit scoring is used by all organizations, such as phone companies, insurance companies, employers, landlords, and government departments to determine how they limit your access to goods, services and life.

You get credit education and guidance with Programs to Fix Your Credit!