What is a Credit Score and Why Should you Care?

Many people don’t know that a low credit score can cost you money. That penalty shows up in many different facets of your life other than just higher interest rates. Potential employers can look up your credit score and perhaps decide not to hire you because of your bad credit. Potential landlords can decide not to rent to you based on your poor credit score. If that little number is too low, it can make your life a lot more difficult. In addition to the credit score, lenders will look at your credit report, which reports on credit balances and any late payments you’ve had. In short, it’s a good summary of all the past mistakes you’ve made in your bill paying lifetime.

If you haven’t the slightest idea what your credit score is or if you haven’t seen your credit report lately, then here is a step by step method to get your own credit score, and improve it.

Help I have Bad Credit!

Most of us don’t check our credit until we need to borrow money, usually for a car loan or a home loan. Unfortunately, having a bad credit score will not only affect your ability to get a loan, but it may also affect the interest rate you pay on that loan. In other words, having bad credit will cost you money! Read more in Help I Have Bad Credit!

How to get your credit report and credit score

Three agencies control your credit reports and create a score based on what credit providers give them. You can access your credit information free of charge, however you may have to pay to get your credit score. Read more about how to Get Your Credit Report and Credit Score.

How to improve your credit report and credit score.

Improving your credit takes time and diligent effort. Here’s how to improve that little number that controls so much of your life. Read More about How To Improve Your Credit Score