A credit score is a rating used b lenders to help determine whether you qualify for a particular loan or service.
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Facts about Your Score!
Your score ranges from 300 to 850, but the majority of scores fall within the 600's and 700's.
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Introduction to Credit
Put simply, credit is the reputation for repaying debts on time.
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Manage Your Credit Score
Looking for a higher credit score? There's good reason to do so - a higher score can give you a greater array of financial options and more favorable credit offers.
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CMA has attempted to answer most of the questions that you will no doubt have as you begin your journey to healthier credit.
Please review our "Frequently Asked Questions" below. If you don't see an answer to your question(s), do not
hesitate to contact us!
5. Does paying off past-due credit accounts neutralize their negative status? No. Many people believe that if they pay off an account the previous negative
information is deleted from their credit reports. Once an account is late, sent to collection or charged off, the negative information will
remain until the statutory amount of time has run (7 yrs normally, 10 yrs for a Bankruptcy). If you make a payment with 1 year left, you
"restart the 7 year clock" and it starts ALL OVER again for another 7 years!
