The whole system of a credit score and credit report process inevitably throws up what are perceived to be winners and losers.
Is often thought of in terms of a very high credit score or a very low credit score. This can sometimes be quite confusing as a low credit score may not actually be that low a number relative to the scale that it is set upon.
It is worth understanding the process of how credit scores operate in order to understand what is a good or bad credit score and what can be done to improve it.
A credit score is simply a number that is set upon a scale between two of the numbers to reflect the perceived credit reliability of the individual concerned.
The idea of a credit score is of course a bit simple one, and the simplicity is designed to produce clarity for the lender rather than the individual.
It is important to realise that a number on a scale may be a relatively high number, but may also be a low credit score relative to what is perceived a high credit score.
LOWEST CREDIT SCORE
This means, that number itself has to be taken in context as to how the credit score scale is being used and read both by the credit bureau and by the lender.
Anyone looking to find out more about their credit score and credit report is normally entitled by law to obtain a copy of the credit report, but not necessarily of the credit score itself. The credit report will provide information that the individual can check to make sure it is accurate and up-to-date.
This information is used as a basis for producing the credit score itself.
The best thing the individual can do is to make sure that all the information is accurate and correct, and if they are concerned that they are being given a credit score that is resulting in adverse terms and conditions of the loan to talk to the initial lender i.e. to Kubota credit in this case.
Failing any joy to approach the credit bureau that produce the credit report and asked that input as to how they have modelled and obtained a credit score.
Sometimes it is possible to get hold of a copy of the credit score itself, but whereas people are normally entitled to a free copy of their credit report, on obtaining a credit score itself morning requires a charge or payment. L