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CPN Number SCN Number

All the information you need about CPN Number / SCN Number, How does CPN Number and SCN Number Work, Build a Credit Score. ShapeMycredit give you all the information you need under one website. ITS YOUR RIGHT WE HERE TO HELP!

All you need to know about CPN / SCN Numbers

Credit Repair

Here at ShapeMyCredit we take our job and your Credit Repair needs very seriously. As a top leader in our industry with umbrella of credit repair services and understanding the applicable consumer protection laws, so we can help you to leverage your legal rights.

All you need to know about Credit Repair

What is a Credit Score? - 5.0 out of 5 based on 6 votes

What is a Credit Score?

Today 720+ FICO credit score is crucial for financial success. All types of credit scores are built from 3-digit number generated by a mathematical algorithm checking and saving your information from credit history.

This score system is designed to predict risk and help lenders to determine your creditworthiness for a mortgage, loan or credit card.  There are a multitude of credit-scoring models in existence, but there's one that dominates the market: the FICO credit score. According to myFICO.com, the consumer website for the FICO score developer,

"90 percent of all financial institutions in the U.S. use FICO scores in their decision-making process".

FICO credit scores range are from 300 to 850, where a higher score indicates lower risk & lower score high risk.  You can three different FICO scores, one form each three major credit bureaus: Equifax, Experian and TransUnion. Your score can affect whether or not you are approved as well as what interest rate you are charged

All credit score ranges: 

FICO Score range: 300-850

Equifax Credit Score: 280–850 

TransRisk Score: 100-900 

VantageScore 3.0 range: 300–850 

VantageScore scale (versions 1.0 and 2.0): 501–990 

PLUS Score: 330-830

What goes into a credit score?

There are five major categories that build your FICO score.

Payment history: (35%) -- Your account payment information, including any delinquencies and public records. 

Credit line used: (30%) -- How much you owe on your accounts its better not to use more than 30% from your credit line. 

Length of credit history: (15%) -- Oldest account VS Newest account

Types of accounts: (10%) -- The mix of accounts you have, such as mortgage, loan or credit card. 

Inquiries: (10%) -- When you have too many inquiries lenders think you need money ASAP and won’t trust you.