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People all over the world are finding themselves being controlled by their finances these days. With the economy of the world in a slump and not many job opportunities available, being able to stay on top of finances and bills can be very difficult to do. The size of bills are the worst part for people who are struggling to survive. Many people do not know, however, that many bills can be reduced, and things like a mortgage and credit card rates can be lowered if a person has a very good credit score.

A credit score is like an indicator of how somebody is doing financially. It does not take into account a person's job salary or anything like that, but it focuses mainly on how well people are able to pay their bills and how well they are able to stay on top of their finances. The higher the score the better. Many people look at these scores and judge how much to charge you based on the score.

One of the biggest things that can be affected by a low score is the rate that you will receive on a mortgage loan. Many banks need to know that the people they are lending hundreds of thousands to dollars to are good and trustworthy people. This is exactly what a credit score is meant to reflect. If the score is high than it is safe to assume that the person in question has been able to pay all of their bills on time and does not have any other outstanding loans. Having a good credit score is vital to being able to get lower rates on things and breaks in many places.

A good credit score is fairly easy to ascertain. All you have to do is pay your bills on time, essentially. A credit score is number that is assigned to your performance that ranges between two numbers depending on the company that you are getting your score from. Some scores range from 0 to 720. Some range from 0 to 840. As a rule of thumb, an excellent credit score would be the highest number possible. Anything that is between 650-720 is considered good for the 720 range and anything that is between 720-840 is considered good for the 840 range. Having a great rating can be the difference between being able to get great rates and having to pay outrageous rates for many things. what is a good credit score