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There is probably no person who does not know or has not heard about the financial crisis which hit the whole world two and a half years ago. One of the most visible problems which it caused is the difficult access to credits. If you do not believe it just take a look at those figures: in 2005 70% of the people applying for a credit was approved and in 2010 only 9% of the applicants are approved! It really sounds worrying, don’t you think so?

And as the crisis “knocked on the door”, the bank managers immediately figured it out that they would need a very good system which would be able to determine the less risky lenders, those who were not to likely to become incapable of paying the loan or credit off! That system appeared to be the credit rating! But please, do not think that the credit-rating system has existed only for two and a half years, since the financial crisis became a real fact! If need to be accurate, the credit rating has existed for at least 40 years and, of course, it was a method invented by the banks in the United States!

However, in this article we are going to inform you more thoroughly about the best credit rating which a person could or should have! When is my credit rating excellent? What gives me the excellent credit rating? Those are all questions which many people ask but no answer is given, at least until now!

As a beginning we should say that the credit rating is calculated and the result is the “credit rating score”. That is usually a certain amount of points (usually between 620 and 720- for 95% of the people). If a person’s credit score is less or around 620 we could say that the credit rating of that person is definitely poor! An excellent credit rating could be achieved only if the credit score is more than 700 points. It is interesting to mention that when the credit score is more than 700-720 points, it is called AAA credit rating! That is something like a jargon for the banks and that is why you should not think that there is BBB credit rating, CCC credit rating and so on. You should remember that the credit rating is always put into points.

Hopefully, you have found this article very useful and you will already be familiar with the excellent or still known as AAA credit rating.