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Understanding Where Credit Scores Come From

If you are going to improve your credit score, then logic has it that you must understand what your credit score is and how it works. Without this information, you wont be able to very effectively improve your score because you wont understand how the things you do in daily life affect your score.

If you dont understand how your credit score works, you will also be at the mercy of any company that tries to tell you how you can improve your score - on their terms and at their price.

In general, your credit score is a number that lets lenders know how much of a credit risk you are. The credit score is a number, usually between 300 and 850, that lets lenders know how well you are paying off your debts and how much of a credit risk you are.

In general, the higher your credit score, the better credit risk you make and the more likely you are to be given credit at great rates. Scores in the low 600s and below will often give you trouble in finding credit, while scores of 720 and above will generally give you the best interest rates out there. However, credit scores are a lot like GPAs or SAT scores from college days - while they give others a quick snapshot of how you are doing, they are interpreted by people in different ways. Some lenders put more emphasis on credit scores than others.

Some lenders will work with you if you have credit scores in the 600s, while others offer their best rates only to those creditors with very high scores indeed. Some lenders will look at your entire credit report while others will accept or reject your loan application based solely on your credit score.

The credit score is based on your credit report, which contains a history of your past debts and repayments. Credit bureaus use computers and mathematical calculations to arrive at a credit score from the information contained in your credit report.

Each credit bureau uses different methods to do this (which is why you will have different scores with different companies) but most credit bureaus use the FICO system. FICO is an acronym for the credit score calculating software offered by Fair Isaac Corporation company. This is by far the most used software since the Fair Isaac Corporation developed the credit score model used by many in the financial industry and is still considered one of the leaders in the field.

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posted by gcpdt @ 5:58 PM 0 comments

Communist Totalitarianism Versus American Imperialism

Commonly called the Cold War, this global conflict between the United States and the Soviet Union together with the communist bloc was very real and deadly. This antagonism began quite early after the end of WWII when the Soviet leader Joseph Stalin declared in February 1946 that communist states could not co-exist with the capitalist countries. The Soviet Union then embarked on the task of challenging the supremacy of the United States.

We must not forget the Berlin blockage, the development of nuclear weapons, the repression of civil liberties in the communist countries, the crushed uprisings in Budapest, Praha, and Warsaw, the Korean War, the Cuban missiles crisis and the war in Vietnam which was pursued by five successive American presidents from Harry Truman to Richard Nixon, Democrats and Republicans alike. President Johnson really needed the Gulf of Tonkin Resolution to go to war against North Vietnam. At that point in time in the global Cold War, it was only the logical step for him to attack North Vietnam which was the sanctuary and rear base for the entire communist bloc to test the resolve and actual might of the United States of America.

There was no need of an excuse for President Johnson to sustain such a test of will and power against the communist bloc. All the five American presidents (Truman, Eisenhower, Kennedy, Johnson and Nixon) were not blood-thirsty and war mongering persons and clearly abhorred war but war was imposed on them in spite of all their efforts to avoid it and resolve it by peaceful means. Only totalitarian and dictatorial governments go to war to pursue their political objectives. Of course, one can have endless discussions and debate on these subjects since there are people who claim that the U. S. is imperialistic. So when we talk about the spread of Communism, we want to mean the preservation and defense of our free way of life against a totalitarian political regime.

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posted by gcpdt @ 3:24 AM 0 comments