What is a Good Credit Score?

Credit scores can have a profound impact on our finances. For example, a good credit score could mean better terms on your loan.

Let’s go through all the in’s and out’s of credit and how it can affect your finances.

Essentially, a credit score is a number ranging from 300 to 850 to help  lenders determine the likelihood that you’ll pay your loan back to them.

What Is a Credit Score?

Keeping up with all bills, including credit cards, utility bills, cell  phone bills, mortgages, and any other bills you might have, will boost  your score significantly.

Paying Your Bills

There is more to it than the amount of debt, but the easiest way to think about it is the less debt you have, the better.

Your Debt

Credit cards can be a double-edged sword. Using them will help build credit, but too much will hurt your credit score.

Credit Card Usage

Applying for credit cards or loans will result in a credit check run on your information.

Credit and Loan Application

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