Getting It Done
A credit score comes from the banks and other financial institutions that you deal with. Credit card companies, loan institutions and banking cooperatives all give you a grade on your financial well-being.
Be a good, on-time paying customer and you will get a great credit score. Be in arrears and your credit score suffers. Be a certified charge-off after six months and you will feel the effects of your bad decision. A bad credit score can still be resolved. All you need to do is to update your payments and everything will be fine. It will take time to improve your credit score, but it is doable.
Mortgage brokers and banks take a good credit score into consideration when they decide to give you access to prime property. It is a sound investment decision on their part to get an established payer into their circle. Otherwise, it is a bad business decision that would get back at them in terms of arrears and missed payments.