Are you wondering if your credit score is important? If so, you probably want to know how it can help or hurt you. But first, what is a credit score? A credit score is a number that shows how likely you are to repay your debts. A credit report shows the factors that led to your score (credit accounts, credit cards, loans, credit limits, account balances and payment history).
How Can Your Credit Score Help You?
When you have a good credit, you will have better interest rates. You will also have a better/faster chance of approval for a loan, higher credit limits, better car insurance rates, easier approval for rental property, and you can even avoid security deposits on utilities. Have you had a credit or financial meltdown? If so, you may be avoiding credit altogether. However, this is one of the worst things you can do! You need to reestablish your credit to show that you have changed the way you manage your finances. You also want to show that you are currently managing your credit in a responsible manner.
Need More Information?
Schedule a free consultation to learn more about credit repair and the steps you can take to make a difference to your credit score.