Because credit reporting agencies get so many dispute letters every single day - hundreds of thousands - they wanted to come up with a way to keep up with the consumer complaints. But not only to keep up the pace on all those incoming letters, but they really needed a system to process them as well.
After being opened by one machine and put on a conveyor belt, the Optical Character Recognition device is the first primary tool that your letters are exposed to when it reaches the credit reporting agencies. This smart software looks at the dispute letter, gathers the data from it, analyzes it, and then interprets it. T
E-Oscar, on the other hand was made to process those dispute letters. Designed and created by the credit bureaus themselves, both the e-Oscar and OCR technologies were made to speed the process in replying to dispute letters. But unfortunately, automated systems don't always work with the best intentions of the customer.
So, what is a good credit score? Every lender and borrower is concerned about credit scores. You can check your credit score with your bank or creditor. In the US, credit scores range from a rock bottom 300 to a sky high 850. If you are well above the middle, then you have a good credit score. To be a little more specific in what is a good credit score, anything above a 700 is considered good credit score. A score tells a lot about your financial management skills.
The weighting system is used to determine credit scores. We shall not dwell much on the system because it is a scientific method that can only be understood by mathematicians. However, erratic payments are the main factor used in arriving at a credit score. If you have a history of erratic payments, you must improve your payment behavior.
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