And a good Credit Score!

Getting a good credit score is not as easy as it seems. Coming from Philippines where we really don't impose that much importance on good credit history unless you're getting a 6 digit loan from a bank, I thought getting a high credit score here in US is a piece of cake. To my disappointment and probably ignorance, it's hard. There's a lot of factors and length of time credit rating agencies considers for anyone to get a Good Credit Score Range. It's not just getting your bills, loan or mortgage paid on time or having a clean slate from collections agencies. It's one of this and one of that. After almost 4 years of living here, I never had a clue how did I got my recent credit score rating of 642, which according to credit rating scale is an "average". I pay my bills on time, way ahead of due dates you see-this only tells that it is not enough to get my score go up to 750. Credit scores are constantly changing though, mine might change and go up in a few months or not. Factors like having too much credit, a denied credit/loan application, low credit balance on credit cards, late payments on bills, number of times your credit was checked, and the length of time you have those credit--all these affects our scores. Having an excellent score gets you a higher chance of a loan approval at a good/lesser interest rate, with banks seeing you as creditworthy, sometimes they're the ones who would even beg you to get a loan from them! Yeah, check your mailbox with unsolicited mail offers from banks!

Anyway, good thing all information that we need to know are all available online, like Cash Money Life, a blog that discuss tips for personal finance, assistance, and right money spending.