Despite all of the information about credit scores that is available and the repeated warnings about maintaining good credit, it is still sometimes befuddling for many people to fully understand what a credit score is, how it affects their finances and how to make it better (or worse). We’ve certainly discussed it here at PFJournal more than a few times and the topic is sure to pop up in many different types of discussions. Still, finding a comprehensive guide to what you need to know is not always easy to locate.
Monitoring your Credit Report and Score are certainly important and the good news is that the folks over at NationalDebtRelief.com have put together a lengthy articles on the ins and outs of you credit score. It features basics like what the score is but also goes into detail on the different elements that can affect the score like your payment history, debt, new credit, types of credit and so forth.
The article also lays out who sees your credit score and how they can use it, and this leads to why it’s so important to monitor your score and maintain your good credit. There are some great tips on improving your score, understanding what a good score is and how this good score can help you buy a house or obtain some other type of loan. They finally feature a few places you can get your credit score for free.
It’s definitely worth spending the time going through the article and developing a better sense of what exactly a credit score is and how it impacts your personal finance situation.