10 Reasons Why Your Credit Score Is Like Your Report Card Of Life.

10 Reasons Why Your Credit Score Is Like Your Report Card Of Life.
Why your credit score is so important? Learn how to fix, improve, and protect the 3-digit number that shapes your financial future.

 

  1. A low credit score can cost you thousands of dollars.
  2. Even one late payment can badly damage your score.
  3. Insurance companies and landlords use credit scores to evaluate applicants.
  4. Credit bureau-based scoring systems, which lenders began using in the mid-1980s, use data from millions of borrowers.
  5. Your credit accounts, credit inquiries and public records make up your credit score.
  6. Check your credit report at least once a year.
  7. Identity theft is every consumer’s worst nightmare.
  8. Use a document shredder to prevent identity theft.
  9. If bankruptcy is your only option, use it.
  10. Errors in your credit report won’t fix themselves. Take action.

 

 

Source(s)

  • Your Credit Score.  How to Fix, Improve, and Protect the 3-Digit Number that Shapes Your Financial Future.  Liz Pulliam Weston
    FT Prentice Hall, 2007. Pages: 224
  • Photo by iStock

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