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 What is the definition of a credit rating?

Answer Your credit rating is an important financial record that lenders and creditors use to determine your ability to pay back debt. A good credit rating is important to financing large purchases such as... Read More »
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Top Q&A For: What is the definition of a credit rating

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

Does ordering my credit score affect my credit rating?

Ordering your own credit score is considered a soft inquiry and will not harm your credit score. Soft inquires are generated when an individual checks their own credits or a business/lender they ha... Read More »
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