Good or Bad, we all have one. Yes, our social security number is connected as well. There are ways to protect, not only your number, but your identity and financial well being.
Do you know it can make you or break you!? You are the only one who can improve or destroy this reputation.
What is Credit Score Number assigned by the credit bureaus that shows a consumer’s likelihood to pay back a debt. Lenders use these scores to determine risk of lending that person money.
With the start of a New Year….You and I need to work at improving our credit score. I honestly have no idea if there is anyone with a perfect score up in the 800’s. ( Mine’s in the “red” 500-600) But there is ALWAYS room to improve…SOOO The need for a budget and saving money in the long run, is the first step to improve our life.
Disclaimer: I will only use general terms and amounts when talking about my own Score.
I am in NO WAY, an expert in credit. I’m just passing along my research, knowledge and experience
So “What is Credit”? ……the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
Credit is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately, but instead promises either to repay or return those resources at a later date. Wikipedia
Why Credit applies
“Credit reports and scores can determine the terms of people’s mortgages, whether they qualify for auto loans, or if they are eligible for different credit cards.”
There are tools, such as phone apps you can check your credit for Free….and won’t hurt the credit.
To start with any credit repare you need to ~Establish a Budget and Stick To It
~Start Cutting Expenses, you don’t need all that stuff
~Sell Your (unwanted) Stuff / Downsizing
There are also other tools not many know of …..I came upon in my research. These will be discussed in later posts.
My next post will give you some insides to the 3 Major credit bureaus. And why and ways of keeping track of all three….
How can you find your credit score with no hassle…down load the credit karma (google app store)
just follow the directions and check it out…..WARNING :: Don’t apply for any of the offers just yet….they will cause a Hard Inquiry to be placed on your report…. Will talk more on that in later post….
PLEASE , any questions or comments till next time ….leave them in the comments and I will likely have them answered in following post
So untill the next post…. Tuesdays (for the this topic. Happy New Year and the new way of life in 2019!!!!