Your credit score significantly impacts your finances in many ways –for example, the interest rate you pay on your mortgage, how much your auto insurance premiums are, and whether or not you can even obtain approval for a mortgage or other credit.
Your credit scores – which can range from 350 to 850 – are based on the information in your credit reports. Last month’s newsletter included information about how you can order free credit reports annually from the three major credit agencies, and reviewing those reports is crucial if you want to raise your credit scores. While those three credit agencies supply credit scores, the industry standard is the FICO credit score issued by Fair Isaac Co.
To raise your credit scores, consider doing the following: