A credit score is a 3-digit number based on your credit history. Credit scores summarize how well you handle debt. Credit scores also help lenders assess the risk they would be taking by extending you credit. Higher credit scores typically help you qualify for better rates from lenders – which can save you money!
One quick way of improving credit scores is by using less of your available credit. FICO scoring system rewards consumers for not maxing out.
5 Top Facts About Your Credit Score: Lack of knowledge about your credit score can hurt your finances. It’s not necessarily your fault but once you’re aware it’s important to adjust your habits.