So, not all credit reporting bodies have the exact same information, it all depends on which credit reporting body your lender shares your credit reporting information with. Lenders subscribe to one or more of the credit reporting bodies, sharing their customers’ comprehensive credit reporting information for inclusion in your credit report. if you apply for and/or take on more debt, default on your account or if your repayment behaviour changes by skipping your monthly account payments. Your credit score will change over time as your credit behaviour changes e.g. If you have been making repayments on your existing accounts on time, this is factored into your score and it will impact your credit score positively. The way in which you manage your repayments on your credit and loan accounts is one of the top factors in most credit scoring models. The sooner you establish a reliable repayment history, the better – so if you plan to apply for a mortgage in the next few years, or take out a major loan, you should manage your credit health now by ensuring there are no negative information such as a default listed against you for not making your debt obligations and by ensuring that you pay your bills on time. If your credit report shows scores out of 1,000, above 690 is excellent and above 540 is good. If your credit report shows scores out of 1,200 then as a rule of thumb a score above 853 is excellent while above 661 is good. Different credit scoring agencies calculate your credit score slightly differently.
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