The score ranges from 300-850 in which several factors are considered to work out at a certain score. About 1/3 of this value is based on your payment history. They also will consider your debt. It is important for the institution to also find out how long you have had credit. If you have a new it will also be considered.
Your credit reports from these institutions can greatly affect your life. You either approved or denied based on your report, and there are times you cannot do anything about this because this information is only open to your creditors. If you are looking for employment screening services online then you can get redirected here https://www.peopletrail.com/employment-screeening-services/.
Fortunately, the US Congress enacting the Fair Credit Reporting Act of 1971 protects the rights of consumers when it comes to reporting agencies. Fair and Accurate Credit Transactions Act of 2003 gives more protection and consumer rights. Now, every consumer has access to the report and identity theft protection.
It should be the responsibility of everyone to ensure you have a good credit report. At least once a year or as much as possible, you should review your reports for errors by requesting your free copy of the reporting agencies.
Of course, you should make sure you pay your debts promptly and it does not mean paying the minimum only. Have a good score means you can expect a lower interest rate on your loan application more. Try to lower your total debt, not only to your score but for your financial health and security.