Life Empowered Blog

Your credit score is very important, especially when it comes to getting a mortgage or purchasing a car. Your credit scores help lenders determine whether you can repay a loan based on your past financial performance. A higher score can qualify you for better interest rates, higher credit limits, and more types of credit than you would with a lower score. Your credit score is determined by many aspects. Check out below the five major areas effecting your credit score and the different ways your can improve your credit score!

Helpful tips for monitoring and improving your credit score.

Foster a healthy relationship between you and your credit card.

These tips and FAQs are designed to help you see your credit report as a useful financial tool.

“It is shocking how little Americans know about their credit,” said John Danaher, president of TrueCredit.com. “Good credit is a cornerstone of your financial profile, enabling you to finance major purchases, such as a home, education, or car…Not knowing about your credit can expose you to higher interest rates, which translates into less money in your pocket at the end of the day.”

A credit score is a three-digit number that is a fast objective estimate of your credit risk based on a snapshot of your credit report at a particular moment. Lenders use this number to make a prediction about how you will behave in the future. A good score will vary from lender to lender.