DID YOU KNOW that three little numbers could end up saving you hundreds, or even thousands, of dollars? Lenders use credit scores to help them determine the "credit worthiness" of consumers applying for credit cards, lines of credit, or loans. The applicant's credit score will probably be used for figuring out whether he or she qualifies for credit, and if so, what terms and interest rates he or she will receive.
The very first step in improving your credit is to find out exactly what your credit score is. To get this information you simply need to obtain a copy of your credit report from the credit reporting agencies which keep records of this information.
After you gain access to your credit score there are several other things you can do to raise and improve your credit score. Limiting how much you use your credit cards and keeping your balances as low as possible are a couple of ways which can be very helpful in credit score improvement.
Why do I need to check my Credit Score?
A good credit score is your passport to competitive interest rates for mortgages, cars, credit card offers, job offers, insurance premiums and more. A strong score is worth money because it saves you in excess costs.