Credit Score Michigan

In the United States, a credit score is a number typically between 300 and 850, based on a statistical analyses of a person's credit files, to represent the creditworthiness of that person, which is the likelihood that the person will pay his or her bills.


1. Local Companies

Gem Commercial Credit, Inc.
248-477-2170
34026 Navin Ave
Livonia, MI
Back On Track Credit Repair
(866) 824-9427
8838 E. 34 ROAD
Cadillac, MI
PATRIOTIC TAX SERVICE
(989) 252-0770
330 S Washington Ave.
Saginaw, MI
Great Lakes Credit Service Llc
(989) 667-4000
3865 Wilder Rd
Bay City, MI
Cuzzens Credit Bureau
(248) 489-5433
28423 Orchard Lake Rd
Farmington Hills, MI
Credit Bureau of Traverse City Inc
(231) 947-7260
424 E Front St
Traverse City, MI
Northern Credit Bureau
(231) 347-2583
425 Michigan St
Petoskey, MI
Central Professional Credit Service
(231) 775-3458
801 Sunnyside Dr
Cadillac, MI
Credit Bureau of Barry County
(269) 945-3445
9 Stebbing Bg
Hastings, MI
Advanced Information Resources Inc
(734) 853-4350
14151 Farmington Rd
Livonia, MI


2. Credit Score - Overview


In the United States, a credit score is a number typically between 300 and 850, based on a statistical analyses of a person’s credit files, to represent the creditworthiness of that person, which is the likelihood that the person will pay his or her bills. A credit score is primarily based on credit report information, typically from the three major credit reporting agencies.

Lenders, such as banks and credit cards companies, use credit scores to evaluate the potential risk posed by lending money to consumers and to mitigate losses due to bad debt. Lenders use credit scores to determine who qualifies for a loan, at what interest rate, and what credit limits. The use of credit or identity scoring prior to authorizing access or granting credit is an implementation of a trusted system. While the most widely known score in the U.S. is FICO, there are many others, such as NextGen and VantageScore.


Do you have Credit Card Debt? Call 877-753-5127

3. Makeup of the Credit Score


Credit scores are designed to measure the risk of default by taking into account various factors in a person’s financial history. Although the exact formulas for calculating credit scores are closely guarded secrets, Fair Isaac has disclosed the following components and the approximate weighted contribution of each:

  • 35%, punctuality of payment in the past.
  • 30%, the amount of debt, expressed as the ratio of current revolving debt to total available revolving credit.
  • 15%, length of credit history.
  • 10%, types of credit used.
  • 10%, recent search for credit and amount of credit obtained recently.

    Fair Isaac does not use the same scorecard for everyone. The scorecards are segmented so that there are over 100 different scoring models that are applied to different individuals based on different ranges of input values. The implication of this segmentation are that while the approximate weighted contribution above may be an average across all scorecards, individuals receive different scores or weightings based on the scorecard segmentation in which they fall. Some consumers have noticed their scores decreasing by small amounts for no apparent reason.


    Do you have Credit Card Debt? Call 877-753-5127
  • 4. Range of Score


    A FICO score generally ranges from 300 to 850. It exhibits a left-skewed distribution with a US median around 725. Generally, 660 is regarded as potentially sub-prime and represents and important break point for credit worthiness. The performance of the scores is monitored and the scores are periodically aligned so that a credit grantor normally doesn’t need to be concerned about which scorecard was employed.

    Each individual has three credit scores for any given scoring model because the three credit agencies have their own, independent databases. These databases are independent of each other and may contain entirely different data. Many lenders will check an applicant’s score from each bureau and use the median score to determine the applicant’s credit worthiness.


    Do you have Credit Card Debt? Call 877-753-5127

    5. Featured Local Company

    PATRIOTIC TAX SERVICE

    (989) 252-0770
    330 S Washington Ave.
    Saginaw, MI
    www.patriotictaxsrvc.123suite.com

    Regional Articles
    - Credit Score Ada MI
    - Credit Score Adrian MI
    - Credit Score Albion MI
    - Credit Score Algonac MI
    - Credit Score Allegan MI
    - Credit Score Allen Park MI
    - Credit Score Allendale MI
    - Credit Score Alma MI
    - Credit Score Alpena MI
    - Credit Score Ann Arbor MI
    - Credit Score Auburn Hills MI
    - Credit Score Battle Creek MI
    - Credit Score Bay City MI
    - Credit Score Belding MI
    - Credit Score Belleville MI
    - Credit Score Benton Harbor MI
    - Credit Score Berkley MI
    - Credit Score Berrien Springs MI
    - Credit Score Big Rapids MI
    - Credit Score Birmingham MI
    - Credit Score Bloomfield Hills MI
    - Credit Score Brighton MI
    - Credit Score Buchanan MI
    - Credit Score Burton MI
    - Credit Score Byron Center MI
    - Credit Score Cadillac MI
    - Credit Score Caledonia MI
    - Credit Score Canton MI
    - Credit Score Carleton MI
    - Credit Score Caro MI
    - Credit Score Cedar Springs MI
    - Credit Score Charlotte MI
    - Credit Score Cheboygan MI
    - Credit Score Chelsea MI
    - Credit Score Clarkston MI
    - Credit Score Clawson MI
    - Credit Score Clinton Township MI
    - Credit Score Clio MI
    - Credit Score Coldwater MI
    - Credit Score Coloma MI
    - Credit Score Commerce Township MI
    - Credit Score Comstock Park MI
    - Credit Score Davison MI
    - Credit Score Dearborn Heights MI
    - Credit Score Dearborn MI
    - Credit Score Detroit MI
    - Credit Score Dewitt MI
    - Credit Score Dexter MI
    - Credit Score Dowagiac MI
    - Credit Score East Lansing MI
    - Credit Score Eastpointe MI
    - Credit Score Eaton Rapids MI
    - Credit Score Ecorse MI
    - Credit Score Escanaba MI
    - Credit Score Essexville MI
    - Credit Score Farmington MI
    - Credit Score Fenton MI
    - Credit Score Ferndale MI
    - Credit Score Flat Rock MI
    - Credit Score Flint MI
    - Credit Score Flushing MI
    - Credit Score Fort Gratiot MI
    - Credit Score Fowlerville MI
    - Credit Score Franklin MI
    - Credit Score Fraser MI
    - Credit Score Freeland MI
    - Credit Score Fremont MI
    - Credit Score Garden City MI
    - Credit Score Gaylord MI
    - Credit Score Gladwin MI
    - Credit Score Grand Blanc MI
    - Credit Score Grand Haven MI
    - Credit Score Grand Ledge MI
    - Credit Score Grand Rapids MI
    - Credit Score Grandville MI
    - Credit Score Grayling MI
    - Credit Score Greenville MI
    - Credit Score Grosse Ile MI
    - Credit Score Grosse Pointe MI
    - Credit Score Hamtramck MI
    - Credit Score Harper Woods MI
    - Credit Score Harrison MI
    - Credit Score Harrison Township MI
    - Credit Score Haslett MI
    - Credit Score Hastings MI
    - Credit Score Hazel Park MI
    - Credit Score Highland MI
    - Credit Score Highland Park MI
    - Credit Score Hillsdale MI
    - Credit Score Holland MI
    - Credit Score Holly MI
    - Credit Score Holt MI
    - Credit Score Howell MI
    - Credit Score Hudsonville MI
    - Credit Score Inkster MI
    - Credit Score Ionia MI
    - Credit Score Iron Mountain MI
    - Credit Score Ishpeming MI
    - Credit Score Jackson MI
    - Credit Score Jenison MI
    - Credit Score Kalamazoo MI
    - Credit Score Lake Orion MI
    - Credit Score Lansing MI
    - Credit Score Lapeer MI
    - Credit Score Lincoln Park MI
    - Credit Score Linden MI
    - Credit Score Livonia MI
    - Credit Score Lowell MI
    - Credit Score Ludington MI
    - Credit Score Macomb MI
    - Credit Score Madison Heights MI
    - Credit Score Manistee MI
    - Credit Score Marquette MI
    - Credit Score Marshall MI
    - Credit Score Mason MI
    - Credit Score Melvindale MI
    - Credit Score Menominee MI
    - Credit Score Midland MI
    - Credit Score Milan MI
    - Credit Score Milford MI
    - Credit Score Monroe MI
    - Credit Score Mount Clemens MI
    - Credit Score Mount Morris MI
    - Credit Score Mount Pleasant MI
    - Credit Score Muskegon MI
    - Credit Score New Baltimore MI
    - Credit Score Newaygo MI
    - Credit Score Newport MI
    - Credit Score Niles MI
    - Credit Score Northville MI
    - Credit Score Novi MI
    - Credit Score Oak Park MI
    - Credit Score Okemos MI
    - Credit Score Ortonville MI
    - Credit Score Owosso MI
    - Credit Score Oxford MI
    - Credit Score Paw Paw MI
    - Credit Score Petoskey MI
    - Credit Score Pinckney MI
    - Credit Score Plainwell MI
    - Credit Score Plymouth MI
    - Credit Score Pontiac MI
    - Credit Score Port Huron MI
    - Credit Score Portage MI
    - Credit Score Redford MI
    - Credit Score River Rouge MI
    - Credit Score Rochester MI
    - Credit Score Rockford MI
    - Credit Score Rockwood MI
    - Credit Score Romeo MI
    - Credit Score Romulus MI
    - Credit Score Roscommon MI
    - Credit Score Roseville MI
    - Credit Score Royal Oak MI
    - Credit Score Saginaw MI
    - Credit Score Saint Clair MI
    - Credit Score Saint Clair Shores MI
    - Credit Score Saint Johns MI
    - Credit Score Saint Joseph MI
    - Credit Score Saline MI
    - Credit Score Sault Sainte Marie MI
    - Credit Score South Haven MI
    - Credit Score South Lyon MI
    - Credit Score Southfield MI
    - Credit Score Southgate MI
    - Credit Score Sparta MI
    - Credit Score Spring Lake MI
    - Credit Score Sterling Heights MI
    - Credit Score Sturgis MI
    - Credit Score Swartz Creek MI
    - Credit Score Taylor MI
    - Credit Score Tecumseh MI
    - Credit Score Temperance MI
    - Credit Score Three Rivers MI
    - Credit Score Traverse City MI
    - Credit Score Trenton MI
    - Credit Score Troy MI
    - Credit Score Utica MI
    - Credit Score Vassar MI
    - Credit Score Walled Lake MI
    - Credit Score Warren MI
    - Credit Score Washington MI
    - Credit Score Waterford MI
    - Credit Score Wayland MI
    - Credit Score Wayne MI
    - Credit Score West Bloomfield MI
    - Credit Score West Branch MI
    - Credit Score Westland MI
    - Credit Score White Lake MI
    - Credit Score Whitmore Lake MI
    - Credit Score Williamston MI
    - Credit Score Wixom MI
    - Credit Score Wyandotte MI
    - Credit Score Wyoming MI
    - Credit Score Ypsilanti MI
    - Credit Score Zeeland MI
    Related Local Events
    How to Grow Your Business
    Dates: 8/13/2008 - 8/13/2008
    Location: Michigan Business & Professional Association
    Warren MI
    View Details

    Write a Winning Business Plan
    Dates: 8/21/2008 - 8/21/2008
    Location: Michigan Business & Professional Association
    Warren MI
    View Details

    Document Retention and Destruction
    Dates: 8/27/2008 - 8/27/2008
    Location: Crowne Plaza Hotel
    Grand Rapids MI
    View Details

    Pre Business Planning: Develop a Competitive Advantage
    Dates: 9/10/2008 - 9/10/2008
    Location: Michigan Business & Professional Association
    Warren MI
    View Details

    How to Understand and Manage Sales and Use Tax
    Dates: 9/11/2008 - 9/11/2008
    Location: Downtown Conference Center at WMU
    Grand Rapids MI
    View Details
    Rate Article (1 Rating)
         
    Articles Insider

    Rss   Delicious   Digg   Add To My Yahoo   Add To My Google   Bookmark   Search Plugin

    Topics:
    Advertising Educational Content Home Appliances Real Estate Resources
    Business Services Entertainment Home Electronics Software
    Career Family Home Services Technology
    Cars Fashion Internet Telecommunications
    Chamber of Commerce Financial Services Legal Trade Shows
    Computer Hardware Franchise Miscellaneous Travel
    Construction Health Nightlife Weddings
    Education Holidays Online Database World History