Wouldn't You Like to Know Your Credit Score?
If you don't know what your credit score is, it is high time
that you learn! This lone number is the biggest determination
for lenders to decide whether you are or are not credit worthy.
Not only do credit card companies use it to determine whether
they should issue you a card or not, but so do car dealerships,
banks, and even mortgage lenders. You need to know what your
credit score is.
But, where can you learn just what it is? Once a year you can
pull a credit report on yourself from one of the credit
reporting agencies. This information will provide you with what
your credit score is as well as what led to it being that
number. On the report you will find your creditors, all of those
that have issued you credit within the last several years. How
well you pay them and what you owe on them will determine your
credit score.
Of course, you will want your credit score to be high. But, many
people go about this the wrong way. They often think that the
more credit they have, the better. Or, others think that they
shouldn't use any credit. Both of these things are wrong. You
should have some credit so that you can qualify for credit later
on. But, too much credit can lead you to less ability to manage
it. In order to maintain a high credit score, you should have
some credit, pay it on time and don't carry a high balance on it
monthly. The combination of these things will provide you with
the credit score you deserve.
Work on your credit score in that manner, but realize that you
should check it yearly at the very least as well. You need to
insure that the creditors are reporting your credit accurately.
You also need to insure that no one is applying for and getting
credit in your name. When you do these things, your credit score
will show companies that you are worth the risk.