From the course: Personal Finance Tips and Tricks
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Improving your credit score
From the course: Personal Finance Tips and Tricks
Improving your credit score
- Credit scores. Yes, the subject can sound a little boring, but the fact is that landlords, employers, and banks all look at your credit score. So why is it important to improve it? To start, a low score can keep you from not only getting a loan, or having to pay more for your loan, but it can get in the way of a great job or a great home. In the US, your credit information including balances, available credit, and late payments is shared by financial institutions with the three main credit bureaus, Experian, TransUnion, and Equifax. Each credit bureau has a different way of calculating your credit score, but the logic's the same for all of them. The higher the score, the better. The most common rating is called a FICO Score. It ranges from 300 to 850. Anything over 660 is considered good. So what can you do? Well, the first thing you need to do is to get your free credit report once a year from annualcreditreport.com, and here's why. Credit bureaus are notorious for getting data…
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