| Do you remember buying your first car? How about | | | | score you actually have, it may bring you back to high |
| applying for a college loan? Well, if you do remember | | | | school grading. You get a number and that number will |
| those times, you might have heard the phrase credit | | | | tell you if your excellent, above average, average, |
| score once or twice. At the time, your parents or | | | | poor, or horribly bad. The higher the number, the better |
| relatives may have been buying you that car, so your | | | | your credit score is. People who have average scores |
| particular credit score didn't come into play. However, | | | | or better will rarely have trouble applying for a loan, |
| your credit score will effect you at one time or | | | | while people with scores of 600 and below will need |
| another, whether you want it to or not. If you ignore | | | | someone to co-sign in order to be approved. |
| your credit rating, chances are you won't have a good | | | | Your credit score not only effects your chances of |
| credit score. But, if your handle your finances and bills | | | | approval but it also effects your interest rating on the |
| with care, being approved for a loan will be of very | | | | loan. Lets say you have a poor credit score but are |
| little hassle. | | | | still approved for a loan. Its great that you were |
| When you apply for a credit card, buy a house, or buy | | | | approved, but your interest rate is going to be |
| a car your credit score comes into play. All of your | | | | substantially higher than if you had excellent credit. For |
| payments for your home, car, and/or credit card will be | | | | those who can't seem to grasp the concept: the higher |
| kept on file, which is called your credit report. So if you | | | | the credit score, the lower the interest rate; the lower |
| pay on time every time, your credit report will say so. | | | | the score, the higher the interest rate. |
| The same applies to late payments as well. Any bills | | | | Its not hard to find out what your credit score is either. |
| you pay or miss will all be clearly spelled out on your | | | | By law, you are able to view your credit score for |
| credit report, which is the "force" that drives your credit | | | | free once per year. There are numerous websites |
| score. | | | | available that will show you your credit score and help |
| Every time you pay your bill on time, your credit score | | | | you to improve it. If you know you have a good credit |
| will stay the same or slightly increase. The change | | | | score and don't need to check it, thats great. If your |
| may depend on what type of bill, such as a water bill, | | | | unsure of your score, surf the web and look for a few |
| mortgage payment, or credit card bill. When you | | | | websites. If that didn't work, just look below. |
| examine your credit score and see how good of a | | | | |