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Credit Score based on Experience
Normally, consumers with higher scores are more likely to get approved for credit. Not only that but they are sure to get the best interest rates as well as more likely to get discounts on insurance. A high score depends on what type of score is being used, as different companies use different score ranges of credits.
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An example of a good credit score is having a long credit history. The longer the periods recorded of your credit the better your score. Credit scores are also based on experience over time. The more experience you have with getting credit and paying your bills on time, the more information there is to determine whether you are good at credit.
Try to gain a better understanding of your finances to help you work towards the best of credit scoring options for you. Watch your credit card balances especially the old debt on your report.
