Article: True Credit Secrets
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True Credit Secrets
Figuring out exactly how credit scores work is problematic. Like nuclear fission, learning Chinese and setting the clock on your DVD player, credit scoring is not something that most people can easily master.
In the complicated world of credit scores there is one fact that pretty much everyone assumes is true: late payments are bad for your credit scores. Not only are late payments bad, but they are also assumed to be one of the worst things you could do to your scores. The first sign of a late payment on your credit reports signals impending credit doom, right? It turns out that this isn?t exactly the case after all.
There are thousands of slightly different credit scoring models used today, each with a different purpose and formula. The most common credit ...
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