What is a credit score?
A credit score is a three – digit number on a scale from 300 to 850, which assesses how likely you are to repay the borrowed money and pay the bills.
The higher your credit score, the more likely you will be approved for a loan. For instance, individuals with a credit score below 640 are classified as high-risk borrowers. As a result, banks typically approve loans for them but at higher interest rates. Also, lenders can reduce the loan term for individuals with lower credit scores.
Conversely, a credit score of 690 or higher is generally considered good and allows you to get a loan with low rates.
Thus, maintaining a high credit score can save you thousands of dollars over the life of your mortgage, car loan, or credit card.
How does it work?
Credit Score
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What does a FREE consultation
include?
As there are no two credit reports that are exactly the same, we provide you with a FREE consultation to create an action plan tailored to your specific needs and goals.
The SBS credit expert will engage in a thorough discussion regarding your credit history, carefully examining the items of your credit reports that have the greatest negative impact.
The consultation is completely FREE.
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Have you ever looked at your Credit Reports and wondered why there are so many negative items? These could be errors that have a significant impact on your creditworthiness. This is why exploring ways to improve your credit score is essential. Our team is here to guide you through the complexities of credit reports and help take your credit score to the next level. We have the expertise to fix any negative items on your report, making it more appealing to lenders.
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