TransUnion Personal Credit Score

James F Thompson

YOUR CREDIT SCORE

Your Score & Grade

Score & Grade Range

Where You Rank

Score
646

Grade
D

Created on
02/24/2008

Based
on your TransUnion
credit report, this is a
depiction
of your creditworthiness

The numerical score ranges
from
990 to 501 equaling
grade ranges from A to F

Your credit score ranks
higher
than 10% of the
nation's population

About your TransUnion Personal
Credit Score

Your TransUnion Personal Credit
Score is displayed above, and was calculated with
the VantageScore credit scoring formula. Your
credit score is a snapshot of the contents of your
credit report at the time the score was
calculated. Using objective, impartial formulas to
translate the contents of your credit report into
a 3-digit score enables lenders to evaluate your
application for credit in a fast, fair and more
objective manner. Remember, we constantly update
the information contained in your credit report,
so your TransUnion Personal Credit Score only
represents the score a lender would receive if
they requested it today.

Summary
Given that you have a low credit
score, it will be hard for you to obtain new
credit. Additionally, lenders almost certainly
will require you to make a large deposit or down
payment. Prepare yourself to pay high fees and
interest rates, and do not expect to receive a
high loan amount. It may be difficult for you to
qualify for any credit cards as well. If you do
qualify for a credit card, you will probably have
a very low credit limit with extremely high
interest rates. To increase your borrowing power
and credit score, you may prove that you are
creditworthy by always paying your bills on time.
Your credit score can see dramatic improvements
over time.

Factors that most affect your score
(listed in order of impact):

1.

You have no real
estate accounts that can be used in determining a
credit score:
A healthy balance of credit
and loan accounts is key to achieving a high
credit score. It is important to build a record of
responsible credit use over time with different
types of accounts.

2.

The balances on
your revolving credit accounts are too high in
comparison to their credit limits:
It is a
good idea to use your accounts regularly, but
remember to keep your balances low in comparison
to your available credit limits. Having a high
ratio of balances to credit limits on open
accounts may be viewed negatively by lenders.

3.

The available
credit on your open bank credit card accounts is
too low:
Having credit available to you is
a sign that you are able to manage your finances
responsibly. Lenders usually like to see that
consumers have a large amount of credit available
to them.

4.

Time since oldest
account opened is too recent:
Time is an
important factor for a healthy credit score.
Giving the accounts time to mature may allow
creditors to better understand how you pay your
debts.

Note: In addition to the factors
listed above, the number of inquiries on your credit
report has
adversely affected your credit score.

Answers
About Credit Scores
· How are
credit scores used?
A credit score is just
one of several factors a company usually uses when
deciding to extend credit, give insurance coverage
or provide financial services to you. A variety of
other factors will be considered, such as length
of employment, income or previous experience with
you. Depending on what you are applying for,
different companies weigh each of these factors
differently. By using a credit score, they can
evaluate your application quickly, fairly and
consistently.

· How can I improve my
credit score?
A credit score is a snapshot
of the contents of your credit report at the time
it was calculated. Long-term, responsible credit
behavior is the most effective way to improve
future scores. Pay bills on time, lower balances
and use credit wisely to improve your score over
time. You should also review your credit report to
ensure it is accurate.

· How do
inquiries affect my credit score?
When your
credit is checked by a business for the purpose of
an application a "hard inquiry" appears on your
credit report. These inquiries can affect your
credit score; and typically they have only a small
impact. Delinquencies, balances owed, and the
length of time you have used credit are all more
important. Inquiries have a greater impact if you
have a limited credit
history.

Additional
Information
The TransUnion Personal
Credit Score is provided to help you better
understand how lenders view your credit report. It
is not an endorsement or a determination of your
qualification for a loan. The VantageScore credit
scoring model was used for this Score Analysis and
is not necessarily the same scoring model that may
be used by a lender. The resulting credit score
may not be identical in every respect to any
consumer credit score produced by any other
company. Any credit information that has not yet
been reported to TransUnion will not be reflected
in your consumer disclosure or score. Also, some
items disputed directly with creditors are not
incorporated in the assessment of your credit
score.

View Your credit
report

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Analysis

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