Did you know that the average person has 3.5 credit cards? Or, that one in five Americans are carrying more than $10,000 in debt on their cards? How does this happen? It’s really easy to get into financial trouble if you don’t understand what is happening with your money and how your credit score is calculated. In this blog post I am going to go over some of the steps you can take to protect yourself from becoming a statistic.
At one point or another, we all need to borrow money. It may be for a car, house, education- there are many reasons why people might need credit. Have you ever borrowed money? If so, did the lender check your credit score before giving you the loan? Credit is an important part of life that everyone should understand. This blog post will explain what a credit score is and how it affects borrowing decisions.
Conclusion paragraph: In the United States, credit scores are a three-digit number that represents your ability to pay back what you borrow. A higher score means better borrowing decisions and more opportunities for credit cards, loans, mortgages, rental applications or anything else where good repayment is required. It’s important to understand how these numbers work so you can make smart financial choices now that will affect your future prospects. Here at RayReynolds.org we offer affordable solutions to help you get started on the right foot with sorting out any problems in your report. Give us a call today!