Your credit score affects many aspects of your financial life, and the higher the number – the better. Most people know how important it is, but not many know what their credit score actually means. Banks and other creditors use a person’s credit score to determine how much risk they would take if they were to loan that person money. So, what goes into calculating your credit score number?
Tag: credit score
Are Credit Builder Loans Really Worth It?
Having a good credit score can provide you the opportunity to secure better interest rates on loans, qualify for certain jobs, or rent a house. Still, credit scores don’t just happen. You must build them from the ground up, and one way to do that is through a credit-builder loan. You might be wondering if credit builder loans are worth your time, and the answer is: They can be if you’re careful.
3 Easy Ways to Boost Your Credit Score
Having a good credit score means you will get the best rate when borrowing money from a bank, give you the best chance at renting the house you want, and even land you a job you desire. If you have a low credit score and want to boost it, we have some simple suggestions that could take as little as 30 days to start showing results.