Check Your Credit Rating Before Stoozing

Each time you stooz you run the risk of damaging your credit rating. Each application you make for credit, be it for a credit card, loan, mortgage or even just for a mobile phone contract, is recorded and filed away in a central register. This register is accessable by the people who provide you with credit - even your credit card providers - and will be used to determine whether or not you are worthy of credit facilities. Finance companies check these records when you apply for a new line of credit, and if you have too many applications within a given time, or have too much credit available to you they may refuse your application. Other reasons for declining credit applications include defaulting on payments, periods out of work and other factors. The exact algorithm for calculating a persons credit score is kept a secret to prevent fraud. Some of the other factors include homeownership and criminal records. When you stooz regularly you will build up a large history of credit applications. Most stoozers advise that you should leave as long as possible between applications, and also to avoid making credit applications that are not necessary. Some stoozers also recommend that credit cards are cancelled once used. If you stooze a credit card with a 0% balance and a maximum credit limit of