Ask Ms. Gail: What is a credit score and what makes it up?

QUESTION: What is a credit score and what makes it up?

Answer: Your credit score is made up through the credit bureau, it’s based on the credit you have and how you pay that credit. How you pay as agreed is the number one driver that builds it up.

The credit score is generally run from anywhere from 350 up to 850. The higher, the better, and what I mean by better is that you are going to get more products and services offered to you.

You are going to get better interest rates. So when you see us advertise rates “as low as”, the higher the score, the better the interest rate you are going to get.

What we don’t want you to do is weed yourself out thinking that you don’t qualify because of your credit score.

Let us pull your credit score, work with you, and we can tell you what rate you qualify for and if you qualify by that credit score or beacon score because we are looking at you as a whole, not just a credit score.

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