Get To Know Your Credit And Boost Your Score Today
Learn How Your Credit Score Has Been Calculated!
If you want to make any big financial decision in life, you will most likely need to know your credit and have a good credit score.
This applies to things like buying a house, getting a credit card, taking out a loan, or purchasing insurance.
But what is a credit score and why is it so important?
Your credit score is a numerical figure that essentially tells lenders how reliable you are.
It ranges from 300 (very poor) to 850 (excellent), with an average result of around 650.
It is based on things like your past and current debts, credit card history, and other financial activity.
If you have been responsible when it comes to managing your money, your score will be higher.
Whereas, if you have outstanding debts or you’ve missed payments or made multiple credit applications in the past, this will be reflected negatively in your score.
RuralMoney.com
As a result, you will find it harder to get favorable interest rates on mortgages and loans.
Fortunately, your credit score is not set in stone.
There are plenty of things you can do to raise your score and improve your financial options.
The following infographic outlines in easy-to-understand detail how your credit score has been calculated and the factors it has taken into account.
It provides guidance for what you can do to raise your score as well as the pitfalls to avoid in order to stop it plummeting.
Click the link below to find out more about how to boost your credit score and make smarter financial decisions in the future.
Image Source
Infographic Design by creditpicks beware of misleading credit repair ads
Related Posts
We are living in unprecedented times, and man...
Venturing out on your own as a young adult ca...
The new year offers a fresh start, and today ...
A lot of people move to the country to save m...
Focus on these four basic ways that we lose m...
