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What is a decent credit score?

By Derek Brown
Published: Sunday, January 10th, 2010

This is a universal fact that no financial entity can survive without credit. Every financial entity wishes to lead a respectful credit-free life. It is also a fact that, every firm will need credit at some point or the other. Therefore, availing credit is ineluctable. Therefore, every firm must plan certain ways to maintain a goo credit score. The most common type of credit score in US is the FICO. The credit scores are calculated on the basis of information collected from various financial statements such as credit reports. This information is primarily collected by various credit reporting companies such as Equifax, Experian as well as Trans Union.

All financial entities also abide by the laws as well as regulations framed by many credit agreements. Various rules are governed by different agencies. Therefore, every financial entity must follow all types of rules in order to achieve a good credit score. Application of all these rules to their financial statements will help them obtain good as well as excellent credit scores. Thus, all business entities must follow rules and regulation to lead a dignified credit life. The FICO also provides various agreements as well as rates of loans for the customers to follow.

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