7 Year Credit Score

Credit Report Scores - Computing Then

Your credit report scores are based on factors that appear in your credit reports. Credit report scores are computed based on a model developed by Fair Isaac Corporation and are typically know as FICO scores. They help lenders determine the risk of extending credit to prospective or existing borrowers.

The following general factors are considered:

• Bill payment history -- 35% of your FICO score (Good: on time and for the full amount)
• Debt relative to your credit limit -- 30% of your FICO score (Good: few installment loans, Bad: many debts, maxed out credit cards)
• Length of credit history -- 15% of your FICO score (Best, entire credit history of 7 years shows no negative reports)
• Types of credit -- 10% of your FICO score (Good: mortgage, car loans, Bad: high interest credit card debt)
• New credit -- 10% of your FICO score (Bad: many rejected applications, new accounts, or credit inquiries)

All these factors are considered in computing your credit score.

Your credit report contains personal information, credit payment history, credit inquiries made when applying for credit, collections, as well as public record information from courts such as backruptcies, foreclosures, wage attachments, liens and judgments.

How Long Can Negative Information Be Reported?

Your credit report contains a history of your credit activity. Negative items on your credit report will hurt your credit rating for a number of years.

Accurate negative information generally can be reported for seven years, but there are exceptions:

• Bankruptcy information can be reported for 10 years;
• Information reported because of an application for a job with a salary of more than $75,000 has no time limitation;
• Information reported because of an application for more than $150,000 worth of credit or life insurance has no time limitation;
• Information concerning a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer; and
• Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions.

Quarterly Credit Report Access Plus Credit Monitoring

For one annual fee you can get access to your credit report, updated 4 times a year. Plus you will get weekly credit monitoring and additional services.

Now iCreditReports.com can provide the following services:

• Weekly Credit Monitoring Emails You will receive weekly email alerts about changes in your credit report. You can easily detect fradulent activity, new credit inquiries, new accounts, late payments, and more.

  Identity theft is the fastest growing crime in America. The sooner you detect it and take action to fight identity theft, the less damage will be done.

• Quarterly Access to Your Updated Credit Report You'll get a brand new credit report four times a year. Your reports are easy to read and have color graphics with a free interactive guide.

  With up-to-date knowledge you will be better positioned to know how you stand with creditors.

• Credit Monitoring You get updated credit scores four times a year plus personalized analysis showing you how to improve your score.

  This will help you get better lending rates as well as quicker lending approval. This will save you lots of money in the long run.

• Debt Monitoring You'll get an up-to-date analysis of your debt to income ralationship four times a year plus important advice for improving your debt management.

  Your credit score depends, in part, on the amount of debt you have. Improving your debt to income ratio will greatly help improve your credit score.

• Powerful Tolls for Analysis You be able to see graphically how your credit score is improving with colorful charts showing trends in income, debt, credit score, and more.

  The more you know, the better able you are to imporve your situation.

Now you can try this service free for 30 days. Go to iCreditReports.com now to start your free trial.

You'll soon see that this is the most valuable service you've tried on the Internet in a long time.