January 20, 2022
Determine your credit situation. First and foremost, know your three digits. Lenders utilize dozens of different scoring models. A good credit score is more than just a measure to brag about. It also makes it easier to obtain the finest loan conditions, lowest interest rates, and most rewarding credit cards, among other financial benefits. Although what constitutes a “good” credit score varies, generally speaking, if your credit score is in the 700s, you’re in good position. You’re in the good zone if your score is in the 800s. If you have space for improvement, boosting your score is a surprisingly simple procedure once you understand the major aspects that influence your score. Catch up on any past-due bills. If you default on your home, school loans, car loans, or other loans, your credit score may suffer. The impact of a late payment on your credit score varies. Check your credit reports to see if you’ve fallen behind on any payments, and if so, get caught up as soon as possible. Set up auto pay or calendar reminders if necessary to ensure that you pay your bills on time each month.
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