credit rating

[sr106]

I have an account in a bank and the banker asked me to get a credit card, I have decided to get a credit card, but I have heard some thing about credit rating and credit scoring, I want known that what is known as credit rating and credit scoring and for what purpose the bankers use credit rating and scoring, Can anyone guide me.
Thanks in advance.....

[bhushna22]

Originally Posted by sr106

I have an account in a bank and the banker asked me to get a credit card, I have decided to get a credit card, but I have heard some thing about credit rating and credit scoring, I want known that what is known as credit rating and credit scoring and for what purpose the bankers use credit rating and scoring, Can anyone guide me.
Thanks in advance.....

See these two things are very important things Credit scoring is the reward points the bank gives when u shop and Credit rating is the limit which yur card holds, this is the limit you can shop for .

[Daglu]

See credit score is that score which says how you have done transaction with a creditor which is a bank in this case and these score give you good offers in return and also they give you a better limit you actively use the card and pay all the debts before the due date.

[money3]

You should get a credit card in order to build a credit score with out a credit card it very hard to build a credit score I really like people who are smart and provide good advice about credit card and credit score as I can get more knowledge and help other people ! I have limited information about credit card and credit score but still learn and I learn very fast about financial items product and services!

[admin]

IF a bank ask you to get a credit card they want to you build a good relationship as not many bank personally advise to people what should they do with their money and how to invest smart! You should be proud of your bank that bank allow you to build financial independence and remember in order to build financial independence it take time and effort!

[matt]

many people don't even care about credit score in young age and then when it time to apply for a credit card or take home loan they say what , my credit score is low so I will pay a lot of interest rates on my home mortgage or even a car loan or student loan , any kind of financial obligation.. you need to have good credit score fico score not fako score!