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What is the Report Card of Life? Your Credit Score.

What is the Report Card of Life? Your Credit Score.

A low credit score can cost you thousands of dollars.

Even one late payment can badly damage your score.

Insurance companies and landlords use credit scores to evaluate applicants.

Credit bureau-based scoring systems, which lenders began using in the mid-1980s, use data from millions of borrowers.

Your credit accounts, credit inquiries and public records make up your credit score.

Check your credit report at least once a year.

Identity theft is every consumer’s worst nightmare.

Use a document shredder to prevent identity theft.

If bankruptcy is your only option, use it.

Errors in your credit report won’t fix themselves. Take action.

 

 

Source(s)

Your Credit Score How to Fix, Improve, and Protect the 3-Digit Number that Shapes Your Financial Future Book Cover Your Credit Score How to Fix, Improve, and Protect the 3-Digit Number that Shapes Your Financial Future
Liz Pulliam Weston
FT Prentice Hall
2007
Liz Pulliam Weston is a personal finance specialist who writes a nationally syndicated newspaper column. She appears regularly on TV and radio.

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