An Equifax score is a numerical representation of your creditworthiness, which ranges from 300 to 850.
Equifax credit score is calculated based on several factors, including payment history, credit utilisation, length of credit history, and types of credit accounts.
An Equifax score of 740 or higher is considered a good score and can better help you in receiving your desired interest rates and amount on loans.
You can check your Equifax score by visiting their website or you can call 1-800-685-1111.
Based on information received from your credit provider, the information on your Equifax credit score changes on a monthly basis.
Late or missed payments, collection accounts, high account balances, high utilization of revolving accounts, short credit history, and having too many accounts with balances are common factors that may negatively impact your Equifax credit score.
Negative information can stay on your credit report for up to seven years, except for bankruptcies which can stay for up to ten years.
Yes, it is possible to improve your credit score. There are many ways to improve your credit score, including paying your bills on time, paying down your credit card balances, and increasing your overall available credit limit.
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