The Credit Score You Created

We all have our own credit score.  This score tells lenders and others how we handle our finances.  A high score is earned by those who pay their bills on time, who don’t carry a lot of debt and and not defaulted on a previous loan.  You need a good score to get the best interest rate when you buy a car, a home or a anything else you will be financing. 

Poor credit is very common these days with more then ten million Americans now having a low credit score.  These people will have a hard time getting a loan and they can even have trouble renting an apartment or a home.  A low credit score will cost you more money because you will pay more in finance charges.  

Each person is responsible for their own score.  Nobody by you can ruin your score.  Only you have fallen behind on your payments or be late so many time that your score now reflects this.  It can be fixed, which is the good news.  It took time to create a low score and so it will take time to build it back up. 

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