How Do Lenders Choose Who to Give Credit To?

How do they decide what a person’s credit limits should be?

They use the Three Cs

Character – will you repay the debt?

Capital – what if you don’t repay the debt?

Capacity – can you repay the debt?

Your Credit Responsibilities

Building Your Credit History

Credit Score Information

Your credit history is used by lenders to determine your ability and willingness to pay back a mortgage loan. The lender will review your credit report to see how you use credit and if you pay your bills on time. Lenders usually concentrate on your most recent one to two-years history unless you’ve had repeated and serious financial trouble in the past.

Factors lenders consider when examining your credit report

Understanding Your Credit Score

A credit score is a number that tells a lender how likely you are to repay a loan, or to make credit payments on time. It is also referred to as a FICO or BEACON score. A credit score is a three digit number between 300 and 900, that is generated by a computer.

It is based on the information in consumer credit reports, including your debt profile and bill-paying history. Each lender will weigh your score in a slightly different way. The higher the score, the better your eligibility for a lower-interest “A” Paper loan.

Credit Score Tips

Scores automatically improve as one’s overall credit picture gets better. Here are a few tips to help you manage your credit obligations:

Continue learning about credit

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

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Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

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