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Written by Chad Cook
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Thursday, 11 January 2007 |
Leasing and your credit score.
Your credit score is part of the leasing settlement. When
you apply for a sublet, your lease company will likely
typically look at at your credit score to determine whether
you approve for the application.
The leasing contract stipulates that you get usual, monthly
payments upon your lease term. The credit score your sublet
company requests identifies how likely you are to make such
payments. It is simply a figure calculated according to a
model that takes into account for your payment history, any
amounts you owe and credit currently in use.
It is very important to keep a good credit-score, as a rule
above 700, to qualify for a lease or any other lending
determination. Start by ordering your credit report from
Fair Isaac Corp, the company that creates your credit
record. If erroneous details is held about you, then contact
the creditor accountable and get such information
corrected. Your charge history is the single most important
factor in determining your credit record, so get in the
custom of paying everything you owe on time and keep the
balances low on your credit cards.
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Last Updated ( Thursday, 11 January 2007 )
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