YOUR CREDIT SCORE
You hear about your credit score all the time, on TV, in the newspaper, friends talk about it, but
What is your credit score and what does it mean?
Credit scores range from 300 to 850. A score of 670 or above is considered good. The higher your credit score the better terms and lower interest rates you’ll qualify for on loans and credit cards. Lower interest rates and better terms can save you thousands of dollars.
How do you improve your credit score?
Here are 10 tips to help improve your credit score:
1. Review your credit reports annually.
2. Get a credit report before applying for a loan. Verify that the report is accurate.
3. Request negative entries that have been paid off be removed from your credit score.
4. If there are errors, dispute them with the credit bureau before you apply for the loan.
5. Pay down high balances on your credit cards or other bills. Chipping away at bills over time may positively affect your credit score.
6. Keep track of your revolving account balances.
7. Pay your loans and your bills on time.
8. Keep balances low and try not to get near your credit limit.
9. Apply for credit only if you need it.
10. Keep old accounts open.
Your credit score is important.
It measures your financial health. Lenders use it to determine whether or not to extend you credit and on what terms. Keep track of your credit score and create a plan to improve it over time. The better your credit score, the better your financial health.
My expertise can help you achieve the best results for you and your family. For more information please contact me at: 203-544-9945 or Beth@eedwardslaw.com.
