What Do Credit Scores Mean and Why Are They Important?

What is a credit score? A credit score is a three-digit set of numbers ranging between 300 and 850 derived from information in your credit report. The higher the number is, the better the score. Lenders such as banks, credit card companies and finance companies use this information to determine loan eligibility, interest rates and credit limits. Credit scoring is not limited to lending institutions. Other organizations, including mobile…

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7 Simple Strategies to Build and Rebuild Credit

Sadly, there is no quick fix to establishing and building positive credit. Because healthy credit practices aren’t normally discussed in homes or taught in public schools, many Americans don’t understand how credit works and struggle to establish and maintain positive credit scores and credit history. Poor credit scores can cause hugely inflated interest rates when purchasing cars and homes, denials on personal and business loans and even determine eligibility…

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