For all those who use credit cards...! Important to know

Discussion in 'Payment Processing' started by majorstreasure, Jan 1, 2013.

  1. #1
    We all use credit cards....! So we should know these important things
    Credit score!

    Your credit score is a judgment about your financial health, at a specific time. It indicates the risk you represent for lenders, compared with other consumers.

    A credit score can be determined in many ways. The credit reporting agencies Equifax and TransUnion use a scale ranging from 300 to 900. Good scores are represented by high numbers. The higher the number, the lower the risk you represent to the lender.

    Lenders may also use their own methods for determining credit scores. Lenders must also determine the lowest score you can have while having the opportunity to borrow money. In addition, they establish the interest rate you will pay depending on your score.
    Check your credit score for free here : http://creditscore[.]xchost[.]org
    GO NOW...!
     
    majorstreasure, Jan 1, 2013 IP
  2. Respite

    Respite Peon

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    #2
    Whats this got to do with Payment Processing?
     
    Respite, Jan 1, 2013 IP
  3. bihguy

    bihguy Member

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    #3
    I don't get this neither.
     
    bihguy, Jan 1, 2013 IP
  4. jorack

    jorack Peon

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    #4
    If your credit sucks, the merchant account processors will deny your application. You can try Mijireh for payment processing. They don't have strict guidelines as far as credit goes.
     
    jorack, Jan 1, 2013 IP