How is a credit rating established?

Answer Your credit rating, or credit score, represents how well you have used debt in the past. Credit ratings are an objective way for creditors to measure how likely you are to default on a loan.Feature... Read More »

Top Q&A For: How is a credit rating established

When was the rating/rank of CPO established?

Though the U.S. Navy has had petty officers throughout its history, it didn't establish the rank of chief petty officer, or CPO, until 1894. About a decade earlier, in 1885, the Navy had establish... Read More »

What is the highest rating you can get on a credit rating?

The FICO credit score ranges from 300 to 850, with 850 being the highest possible score. The FICO score, calculated by the algorithm created by the Fair Isaac Corporation, is the most widely used c... Read More »

Does it hurt a credit rating to cancel a paid off credit card?

Closing a paid off credit card can lower your credit score because that card will no longer report that you are on time with your payments each month. In addition, it will increase the percentage o... Read More »

Upon cancellation delinquent travel charge cards may be reported to credit bureaus or similar entities and can affect your credit rating?