Why is my credit score important?
Put simply, your credit score helps lenders determine whether to approve you for a loan, which can have a major effect on your financial future. Maintaining a high credit score will make it easier to acquire a loan. Applicants with high credit scores also often receive lower interest rates, which means they pay less over the course of the loan.

How do I check my credit score?
Generally speaking, there are a few ways to check your credit score.

First, check your credit card statement at the end of the month. Most major companies include a credit score. If you don’t receive a paper statement, look around on your credit card company’s website for more information on how to check your credit score.

Second, you could buy your credit score from a credit reporting company. Websites like https://www.myfico.com provide credit scores for purchase. Beware that the provided credit score could be an educational score for your reference rather than the score that lenders see.

Third, http://www.annualcreditreport.com allows you to obtain and review your credit report once per year. Doing so can help spot errors and help raise your score.

How do I raise my credit score?
Unfortunately, there’s no fast and easy way to raise your credit score. Most of your score is based on existing debt and how often you make payments on time. Simple things like paying bills on time and paying down credit card and loan balances can significantly impact your score in a positive manner.

In order to raise your score, try to establish a monthly budget and stick to it. Work to live within your means and avoid any impulse purchases. Tips to avoid impulse purchases include creating a list and sticking to it, avoiding online shopping sites like Amazon, and canceling any subscriptions to catalogues.

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