There are at least three things in life that you protect no matter what: your family, your reputation and your credit score. Unfortunately, because we’re only human, as we travel through life we often don’t do the best job we can with these key areas. There are reasons of course, we’re too busy, we don’t have enough time to do it right, or we ran out of check before we ran out of month. We’ve heard them all before. I will leave family and reputation to someone else and concentrate on the area where we can help – your credit score.
If you are reading this article, the chances are good that your credit score has taken a beating as of late. A few missed payments, credit card balances that exceed limits, even blowing off paying a vendor that you think did a bad job, may all affect your credit score.
Unfortunately, unless you live off the land, make all your own clothes, grow all of your own vegetables and are entirely self-sufficient (a life many of us wish we could live), you need a good credit score to live life at the top. Want to buy a house? There is no such thing as a “sub-prime” mortgage anymore (you don’t want one anyway), so you need a good credit score. Need a new car at an affordable interest rate – you need a good credit score. Applying for a job where your personal credibility is important (think security, working in a bank or getting a job with the CIA to name a few), you need a good credit score. Want to lower your insurance rates, you need a good credit score. Want a lower interest rate on your credit card, you need good credit score. I could go on and on, but you get the point.
Your credit score is the protein of your financial body. Can you get through life without it? Yes, in the short run, but you will be very sluggish and far less effective. Click one of the links below to bone-up on what you need to know to improve your credit score.
- How to learn your credit score;
- The truth about companies that offer to fix your credit score;
- The interplay between your debt level and your credit score;
- How does an account charge off affect your credit score; and
- How to improve your credit score.
Keep in mind that improving and maintaining a good credit score is an ever evolving process. Over time and with a few well placed actions you can improve your credit score well beyond what most people think is possible.