Leasing and your credits rating.

Your credit score is part of the leasing decision. When you apply for a
lease, your lease company will typically look at your credit score to
decide whether you to approve the application.

The leasing contract stipulates that you make regular, monthly payments
over your lease term. The credit score you lease company requests
identifies how likely you are to make such payments. It is simply a number
calculated according to a model that takes into account your payment
history, any amounts you owe and credit currently in use.

It is very important to keep a good credit-score, usually above 700, to
qualify for a lease or any other lending decision. Start by ordering your
credit report from Fair Isaac Corp, the company that creates your credit
score. If erroneous data is held about you, then contact the creditor
responsible and get such information corrected.
Your payment history is the single most important factor in determining
your credit score, so get in the habit of paying everything you owe on time
and keep the balances low in your credit cards.

(Word count: 180)

PPPPPPP

Previous articleHire Buying and selling
Next articleLeasing Word list

Must Read

Spyware and adware, understanding the fundamentals

People think that there is actually no difference between a spyware and an adware. Spyware is just a web term used to refer to...

Vintage Carpet

Antique type carpets help to add a touch of grandeur and glamour to your home or office, speaking greatly about your rich and extravagant tastes. ...

An Advent To Muay Thai

All across the world, people have heard about it and possibly even witnessed it first hand or on television - the furious punches, bone...

Benefits and downsides of the iPod video

The new iPod video became famous due to its huge memory and the capacity of playing video, due to its slim design and longer...

All About The Window Blind

Window blinds are coverings for windows, normally attached to the interior side. Window blinds refer to some device to hide from sight or to help reduce...
Leasing and your credits rating. 3