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	<title>The Frugal Pig &#187; credit report</title>
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		<title>What is a Credit Score?</title>
		<link>http://www.frugalpig.com/frugallife/frugal-finance/finance/what-is-a-credit-score/</link>
		<comments>http://www.frugalpig.com/frugallife/frugal-finance/finance/what-is-a-credit-score/#comments</comments>
		<pubDate>Thu, 18 Sep 2008 13:23:47 +0000</pubDate>
		<dc:creator>Oink</dc:creator>
				<category><![CDATA[finance]]></category>
		<category><![CDATA[credit report]]></category>
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		<description><![CDATA[Most of us know that we have something called a credit report on file somewhere. We also know that credit report affects our ability to obtain financing, and it also affects the interest rate we pay if we can get credit. This impacts our home mortgage, car loans, and other credit. However, even though we have some vague idea that we have a credit score and credit report, we really do not not understand it. Bad Credit Blues explains credit scores here! They tell us that Americans have a number assigned to them that is between 300 and 850, and the higher that number is the better! The majority of people have credit somewhere between the high 600&#8242;s and mid 700&#8242;s. A credit score below 600 is weak, while a credit score over 700 is usually pretty good. And even though all 3 major credit bureaus use the same basic calculation for credit scores, the scores are likely to differ slightly, mostly because different information may get reported to each source. Remember, the better your credit score is, the less you will pay for credit. A large factor in calculating your own score is how timely you pay your bills, [...]
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