Consumer Credit Application: Fill & Download for Free

A Credit Score is assigned to you by a credit information company (for example companies such as CIBIL, Equifax, HighMark) and is accessed by a prospective lending financial institution, indicating to the lender your history as a borrower - whether good or poor.These independent credit agencies takes into consideration several factors when assigning credit scores, which include:Payment historyCredit usageDuration of the accountType of loans (home loan, car loan, personal loan, consumer loan etc.)Number of enquiries to avail creditThese factors influence the credit score you receive. The score you are assigned can range from 300-900. Higher the score, lower the risk involved in giving you credit. Usually, the score of 750 and above is considered very healthy. Hence, it becomes easy to apply for a loan and get it faster if you have a high credit score.To improve your credit score you need to follow these simple rules:Make your debt payments on time and regularly. This will have the most significant impact on your credit score.Try and avoid having more than 2 credit cards. This will ensure that you don't keep credit limits that you don't really require.Always pay your bills on time.Keep your balances low and control your credit usage. For example if you have a credit card with a limit of Rs. 5 lakhs, try to not use Rs. 4.90 lakhs credit. High credit usage can be viewed negatively by a loan provider.Avoid Credit Hungriness. If you have made multiple new loan applications, it reflects badly.Carefully monitor any co-signed and joints account you may have. If any payments are missed by your joint holder or co-signee, you are held equally liable and this can affect your credit application when you make it.If you are planning on taking a new credit card or a new loan, do it in a short span of time - don't drag out the process. If you stretch the process over months, it will look like you have spent a lot of your time seeking credit, and this will reflect negatively. Do your research quickly, and take the loan.Here is a Comprehensive Credit Report Guide for you to know more about credit reporting system.

There are different aspects to checking whether your credit is good or not.One way to look at this issue is to break it down into looking at your:Credit HistoryCredit ScoreCredit HistoryYour credit history is made up of all the items recorded on your credit report. Get a free credit report at Annual Credit Report.com - Home Page and carefully review it.You want to make sure that it only contains accurate account information. Dispute inaccurate information to make sure that it is removed.Review collection accounts, if any exist. Look at more than the listing of accounts. Check your public records area, to see if there are any judgments or liens that are filed against you.Negative credit history notations, such as collection accounts, liens, or judgments can result in you being turned down for a loan or credit even if you have a good credit score.For example, you could have a credit score that meets a lender's minimum credit requirements, but the lender won't accept your application until you resolve an outstanding judgment. In this example, a good score doesn't indicate good credit, because the bad credit history item doesn't allow you to qualify for the kind of credit you seek.Credit ScoreWhen it comes to credit scores, it is easy to be confused. Not only are there free services that compute and can be mystifying.There are a plethora of places that offer their own versions of a credit score (such as Credit Karma, Quizzle, and Credit Sesame). While scores from these firms may function as a tool to gauge the general direction your score is headed, they are not going to provide you an accurate view of your actual credit scores.Even when it comes to actual FICO scores, things are very confusing. The Consumer Financial Protection Bureau (CFPB) issued a report about this problem to Congress in 2011 titled "The impact of Differences Between Consumer- and Creditor-Purchased Credit Scores."Even when consumers pay for a credit report with a FICO score they are very likely not seeing the same score a lender sees to evaluate them for a credit application. The difference in what the consumer sees and a creditor or lender sees can be harmful in two ways, according to the CFPB:Consumers who think their score is lower than it actually is "may settle for less favorable terms or may forego applying for credit if the scores they purchase lead them to believe they will be viewed as poor credit risks, although the scores received by lenders would imply otherwise."Consumers who think their scores are higher than they actually are at a risk of applying for loans they won't get. This is a a waste of time and possibly money, too, if there are application fees involved. Additionally, the credit pulls associated with an application can lower a consumer's credit score.Consumers are easily confused, the CFPB explains: "Given the numerous scores in use by creditors, it is difficult for consumers to know exactly how they will be evaluated." They add that "it is unlikely that a consumer will often be able to know the exact score that a particular lender will use to evaluate them."Yet another confusing factor is that you can call a lender one day regarding a mortgage loan and hear your credit scores and then call the same lender about an auto loan and hear different scores from the same credit bureaus.Action PlanThe bottom line is that you can get an idea of your credit score through various sources, but until you speak with a lender about a specific loan product, you won't know how that kind of lender views you.Equally important, you should know what it takes to:Build good credit:http://www.bills.com/how-to-build-credit/Improve and maintain good credit: http://www.bills.com/how-to-improve-your-credit-score/

How to Raise Your Credit Score Above 700In the world of credit scores, the 700 is an important number. FICO provides scoreranges to help consumers and lenders see where their credit score falls.Less than 560 - Very Bad560 - 650 - Bad650 - 700 Fair700 - 750 GoodAbove 750 - ExcellentHaving a score above 700 will give you access to low rates on loans, the best credit cards, and all but the best deals from even the stingiest of lenders. It also means that your credit score is higher than nearly half of Americans.People often ask, “How can I raise my credit score?” The reality is that getting your credit score above 700 can be difficult, but if you know the factors that affect your credit score, as well as how to maximize the traits that improve your score, you can raise your credit score fast.These factors are credit mix, amount owed, payment history, length of credit history, and recent applications.1. Have a Good Payment History: 35%Your payment history is the most important aspect of your credit score. It is the easiest to use in your favor, but also the most difficult to repair if it begins dragging your score down.Lenders are primarily concerned with whether they will get their money back from the people they lend it to.Having a track record of making payments on time is the best way to boost their confidence in you. It isn’t fast or glamorous, but paying your loans over the course of a couple years has a massive impact on raising your credit score.If you miss a payment, how much you miss it by affects the ding it puts in your credit score. The good news is that many lenders will work with you if you have a history of on-time payments and will forgive the first offense.If you ever miss a payment or send one in late, contact the lender, explain the situation, and ask if they can work with you to avoid the black mark on your credit report.2. Reduce the Amount You Owe: 30%The amount of money you owe is the second largest factor in determining your credit score and changing it is one of the best ways to raise your credit score quickly.This factor of your score is split into a few subcategories; the main three are your total debt, the number of credit cards with a balance, and your credit utilization.The total debt category is exactly what it sounds like: how much money you are currently borrowing. The less money you are borrowing, the higher your score, because lenders want to feel confident that you can afford to pay them back.Similarly, the fewer credit cards you have that have a balance, the better.Reducing Your Current Credit UtilizationCredit utilization is the ratio of your credit card debt to your total credit limits. The lower this ratio is, the more credit you have available and the better your credit score will be.The thing that makes your credit utilization a useful way to raise your credit score quickly is that it is reported on a monthly basis and that your utilization from previous months does not factor into your current score.For example, your total credit limit across all your cards is $8,000 and you put a big $5,000 purchase on a card one month. A lender looking at your utilization will see that you’re using 62.5% of your total available credit, which is a bad sign.If you pay it off when the bill arrives, and apply for a loan at the end of the next month, the lender will see a credit utilization of 0%, which makes you a much more attractive borrower.This means that if you put a lot on your credit card one month and that card reports the balance to FICO, your score could drop by a number of points.If you pay it in full when the bill is due, and don’t use the credit card at all the next month, FICO will see that your utilization is now 0, and your score will get a nice boost.You can use this if your score is on the cusp of getting you a better deal on a big loan, such as a mortgage.Avoid putting a balance on your credit cards in the month or two leading up to the application, that way your utilization will be as low as possible when you apply. This will give your score the biggest boost possible.If you can reduce your credit utilization, keep your balance on one card, and pay down your debt, you can improve your credit score by as much as 100 points, making this one of fastest ways to improve your credit score.3. Increase the Length of Your Credit History: 15%This aspect of your credit score is broken down into two subcategories: the actual length of your credit history, and the average age of your credit accounts and loans.The longer you have had credit accounts, the more information that FICO has on your credit habits. This gives a small boost to your credit score because it shows that you have a lot of experience with handling debts and bills.A short credit history will not harm you, but you won’t score many points in this category.Improving the Average Age of Your AccountsThe part of this category that you can easily use when raising your credit score is the average age of your accounts.Lenders tend to see people applying for loans or credit cards as a risk factor since it implies that they need the financial help. Banks and credit card issuers also like loyal customers because they can make more money out of the relationship.Put simply, this part of your credit score is simply the length of time each of your loan and credit card accounts has been open, divided by the number of loans and credit cards you have. The higher the average age, the higher your score will be.You can score the most points in this category by avoiding applying for new loans or credit cards unless you need them, as each new account will reduce your average age of accounts.This advice also applies to the last factor that influences your credit score.4. Avoid New Credit Applications: 10 %As mentioned above, applying for new loans in considered a risk factor because it implies that you need the additional cash.Every time you apply for a new loan it appears that fact appears on your report and stays there for two years.The effect that new applications have on your credit score reduces quickly over time and is almost fully eliminated after one year.If you are planning on taking out a big loan, you can plan on raising your credit score by avoiding applying for other loans in the one or two years leading up to the purchase.One tip that won’t raise your score, but will reduce the negative effect of applying for loans is to shop around for loans in a short period of time.FICO understands that car and home buyers may want to work with multiple banks and provide a one month grace period.No matter how many lenders check your credit for mortgage or car loans, as long as each check occurs in a 30 day period, it will appear as one application on your credit report. This means you can shop around without fear of hurting your score every time you talk to a new bank.5. Improve Your Credit Mix: 10%Your credit mix has a small effect on your overall credit score but it is one of the easiest to change to improve your score. Lenders like to see that you are a savvy consumer and capable of handling different types of loans with different terms and requirements.The different types of credit that the Fair Isaac Corporation (FICO) track are credit cards, retail accounts, installment loans, finance company accounts, and mortgages.The more different types of credit you have, the better it is for your score. This means that having a car loan, a credit card, and a mortgage is better for your score than simply having three credit cards.If you have every asked “how can I raise my credit score fast?” improving your credit mix is one strategy.You can take advantage of this by financing large purchases at stores, taking out a loan when you buy a car, or consolidating credit debt with a personal loan. Your score will improve with each new type of loan you open.Avoid Paying Interest to Improve Your Credit ScoreOne thing that is important to note is that you should never feel the need to pay interest to improve your credit score.One of the benefits of a high credit score is saving money on interest payments, so paying unnecessary interest to achieve a high score is self-defeating.The good news is that just opening the account will be enough to get a bump in your score, so long as the lender reports the loan to FICO.If you have the money to make a purchase in full, you can finance it to get the new type of loan listed in your credit history, then pay it in full once the loan has appeared on your credit report. This lets you avoid interest while reaping the benefits of an improved score.Seek help: I used the services of a professional to get my credit repaired and he cleared all my debts and improved my credit score so i would suggest you use his services, He has been helping a lot of people lately , Just search for George Gibbs here on Quora and he would be happy to assist you.