You probably already know how important your credit score is to lenders. When you apply for credit, your credit score helps lenders determine whether or not you are able to repay the loan based on your past financial performance. With a higher score, you qualify for better interest rates, lower payments, higher credit limits, and more types of credit than you would with a lower score.
Did you also know that your credit score can make it easier to rent an apartment, qualify for a good cell phone plan, and pay less for insurance? A higher score can save you hundreds, if not thousands, of dollars every year, which can add up to significant savings.
Not only can it hurt you financially, but many employers now check a potential employee's credit as part of the hiring decision. A low credit score could cost you a chance at your dream job.
There are no tricks or quick fixes to getting a good score. However, you can raise your score over time by demonstrating that you consistently manage your credit responsibly. Here are 10 things you can do to improve your credit score:
To learn more about credit scores, check out the e-learning course through our partner, Guidewell Financial Solutions. Guidewell counselors are available to help you establish a budget, assist you with getting out of debt, prepare you for the purchase of your first home and more. For more information, visit their website or call 800-642-2227
Market USA has partnered with Guidewell Financial Solutions (formerly Consumer Credit Counseling Services of MD & DE) to offer you a variety of money management solutions. Guidewell Financial counselors can help you establish a budget, assist you with getting out of debt, prepare you for the purchase of your first home and so much more. They also offer online financial education on a variety of topics including checking accounts, credit cards, student loans, identity theft, credit reports and credit scores.
Serving the community since 1966, Guidewell Financial Solutions is an accredited non-profit financial literacy advocate. They are dedicated to helping individuals and families resolve financial problems through confidential budget counseling, debt management repayment programs, and community education. Annually, Guidewell Financial Solutions help more than 30,000 individuals through counseling sessions and reaches more than 150,000 individuals through education programs.