Let me introduce myself. Though known to you but formally I am Planet Credit Score. I am the foundation of all your financial transactions. I affect you on the basis of your financial behavior. Based on me you will befriend credit cards or your required loans. Well if you are good at it and maintain all your payments properly I am there with you, if not, befriending loans or even credit cards will be difficult.

I am a three digit number assigned to you depending on the given reasons which say whether you are good or not….

  • 35% of your payment history,
  • 30% of the amount that you owe on all your debts,
  • 15% of the length of your credit history,
  • 10% on the new credits that you have taken and
  • The rest on the type of credits that you use.

Always remember, if you are good you are more than a 700. I believe you are average if you score 500-699. You are below 499? I have nothing to say.

Look…. its pretty simple that I have different avatars, but as you need to know, I will tell you. You are acquainted with me mainly as FICO. As FICO I mark you from 300-850. As Vantage I mark you from 501-990 and also grade you between A-F, the best grade being A. I am also PRBC incarnate and many more.

Remember it’s my position that a creditor will check before they offer you credit. My position i.e. your score also depends on how well you manage your money and bills. Stay on your guard and deal finance with prudence so that you don’t restrict my path and make me collide with other planets. As it is said “God helps those , who help themselves”. Don’t you worry. I am there with you. Good Luck!

Keep an eye out for all the other planets who are yet to introduce themselves.