Credit Scores

A credit score is a numerical rating that indicates how likely an individual is to repay their debts. A low credit score can impact your ability to get a loan, open up a credit card, or even being approved to rent housing.You should check your credit report yearly for accuracy, and notify the credit bureaus immediately if notice any information is incorrect. You are entitled to a free credit report each year (one from each credit bureau – for a total of 3 per year!) You can increase your credit score by paying bills on time, using a low percentage of your available credit, and using a variety of credit types. Opening several new lines of credit at once can hurt your credit score.