| Most people don't know their credit score. Mine's a | | | | really help improve your credit score. Alternatively, |
| 780. What does that mean? It means I get the best | | | | making payments 30 or more days late, racking up |
| terms on loans, rarely do I have to put up a deposit for | | | | excessive credit card debt and having too many |
| utilities and I'm bombarded with special financing offers | | | | accounts can hurt it. |
| from just about everybody. I even get zero percent | | | | If you already have a score and just need to repair it |
| interest convenience checks from my credit cards | | | | focus on paying down your debt and make sure |
| each and every month. | | | | everything else is being paid on time. While you are |
| Some of you may not have a credit score at all. You | | | | paying down your debt do not open new accounts. |
| more than likely will not have a score unless you are | | | | You don't need the excess inquires or the temptation |
| at least 18 and you've had a credit card or some type | | | | to accumulate new debt. Never close your oldest |
| of loan for at least six months. So, if you're young or | | | | accounts because they can add valuable history to |
| have never used credit before you will not have a | | | | your credit report. Set goals and stick to them. People |
| credit score. | | | | that set goals are twice as likely to achieve desired |
| This number ranges from 350 to 850 with most | | | | results than those that do not. |
| people having scores in the upper 600's. The higher the | | | | Check your credit report regularly. Keep it free of |
| score, the less risky you are to banks, landlords, | | | | inaccuracies and mixed credit files. Mixed credit files |
| insurance companies and employers. This magical | | | | are when someone with a similar name gets their |
| number is calculated by a complex mathematical | | | | history mixed up with yours. It could be good or bad |
| equation that takes a variety of financial factors in to | | | | but you don't want to take that chance. Monitor identity |
| account. More simply put, it's based primarily on your | | | | theft. It does happen and most people never know it |
| pay habits and the amount of debt you have. | | | | until its revealed on the credit report. Credit fraud |
| Paying your bills on time, keeping balances low on | | | | affects more than ten million people each year. Don't |
| revolving debt and avoiding excessive inquiries can | | | | be one of them. |