Monday, September 1, 2008

Credit History Is All That Matters

How is leasing affected by your credit score? Your credit is tantamount to the spokesperson for the president during a political crisis. Your public image and trustworthiness will be defined by your credit history. Here are a couple of information on how to calculate your credit score and top the ranks in car leasing companies.
First of all you have to know that your credit score is a gauge of your credit worthiness for car leasing companies to grant you a lease. This is based on your present and past credit history, and it can range from 350 to 850.
When you have a credit score higher than 720, then you have a prime score and can land on the best rates of the house; on the other hand, if you are below 640, then you are subprime and considered as bad apple among the group of car leasing dealers.
If you get into this trouble, it would be better to grab the FICO Credit Score from the Fair Isaac Corporation (FICO). This is a detailed documentation of your credit score from three major credit agencies. You can compare and check if there are discrepancies in the tabulation of your credit reports; if ever you’ll find one, you can call this agency and ask for a correction.
If you find no mistakes on it, you can work on paying your debts and make it a point to go over the threshold of 640 in your credit report. It’s not a wise decision to open a new credit account since it might cause further bad credits on your account.
Exert more effort in hitting your above threshold goal, and you’re good to go!

Source: http://www.car-leasing-help.com

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