Hi to you all. I am Bianca and I would like to apply for a mortgage soon and I was reading a lot on the Internet and realized that lenders are using Credit scores while processing my application for a loan. Can you tell me if my current accounts have any kind of influence on my credit scores? Thank you all in advance.
You are quite right about lenders and their usage of Credit score. They are using that score in order to predict if you are be able to repay the loan on time. Credit scores are in a close relation to a lot of things and one of them is your current account. Lenders give you score and you will receive the maximum points if you have been loyal to your bank for long period of time. You score is going to be reduced if you have recently opened account and the worst thing that can help to you is that you do not have any kind of account. Also on you score will influence you credit history as well.
