What is a Beacon or FICO score?  How is it used by creditors to determine your credit worthiness?

Fair Isaac Company created the Beacon FICO score which is the most commonly used rating to determine credit worthiness and financial strength.  Your credit score is the number one criteria used to determine what interest rate you will be charged on your mortgages, loans,
and credit cards.  It is calculated based upon the information available in your credit report.  Your credit report is used to determine your eligibility to receive credit, along with other strategic information that each creditor analyzes to determine your risk as a borrower.  Your
financial health depends on obtaining and maintaining good credit.  It is a good idea to periodically check your credit report to verify your rating and to insure that no one is fraudulently using your name and social security to get credit.

Beacon FICO scores range from the lowest of 350 to the highest of 850.  Generally speaking, a credit score below 620 is an indication of a more risky situation.  When the socres drop below that level, you will see higher interest rates, stiffer terms, and more rejections of credit applications.

Debt relief through credit counseling and a debt consolidation loan is a way to increase your credit rating.  At Credit Capital Solutions, a licensed and bonded company, we provide credit repair, a well as loan modification services.  Through our unique business model and our long history of experience, we are very successful in assisting clients to repair their credit score.

Contact us for a free, private, and discreet consultation…many individuals have moderate to severe credit problems…especially in this economy.  Be proactive…we can help…we can Empower you!