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Understanding Your Credit Score

December 19, 2012

At Reliance First Capital, we make sure our customers understand their credit score, from how it gets generated, to which items and activities are listed.  Once our Mortgage Analyst receives your authorization and a credit report is generated, they take the time to walk you through the report so you know what factors have a positive and/or negative impact on your score.  If necessary, our Reliance First Capital ‘Credit Coach” program can help you further review your report identify ways to improve your score.

Building a history

If you have ever received a credit card, student loan, auto loan, or mortgage, then you have a credit report. The report shows your payment history, how many accounts you have (active and closed) and the balances owed, and lists any inquiries that have been made about your report.  The report also provides your credit score.

Understand your number

The credit score represents a summary evaluation of your credit worthiness.  Fair, Isaac & Company (FICO) is one company that creates a score based on information in your report.  The score is a grade of your credit position.

Credit scores range from 300-850.  The higher the score, the more sound your credit rating. This is the number that creditors look at to help determine your credit qualifications.

800 and up:         Excellent
725-799:               Good
600-724:               Fair
up to 599:            Poor

How we can help

Reliance First Capital ‘s “Credit Coach” program assists our consumers by helping them further  understand their credit report and identifying ways that the credit score can be improved.  If you have questions or would like to know about the Reliance First Capital “Credit Coach” program, speak with one of our Mortgage Analysts today.

To learn more Reliance First Capital, our mortgage programs or anything in the article above, contact us toll-free at 866-735-9004 or visit us online at

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