MODULE 5

1. How Important is Your Credit Score?

Why You Want a Good Credit Score

  • It’s your snapshot to a lender. If you need a loan, you need to let the lender know that you’re reliable. Your credit score is an electronic record of all of your credit activities. If this number is low, you’re telling the lender that you may not be a good candidate.

  • It can determine your loans, rates, and financial options. Sadly, you may not qualify for the loans or credit cards you want if your score isn’t high enough. You could also end up with higher interest rates and less options.

  • If you have a high credit score, you have the potential to save a lot of money! You’ll receive lower interest rates and unlock benefits with several credit card deals. You’ll have more housing options and enjoy extra perks.

  • It can affect your employment opportunities. When you apply for jobs in the future, your potential employer will most likely do a background check. Your credit history could be included in this. You’ll want to make sure you’re giving them as many green flags as possible so you have a better chance of getting hired!

Now You Know Why This is So Important!

Having a good credit score should be one of your goals, so let’s explore ways to make that happen! In the modules ahead, I’ll break down exactly which factors go into your credit score and share ways to make sure that number stays high.