Most people know their credit score is an important factor in securing a mortgage, auto loan or even an apartment. They also know that missing a credit card or loan payment can damage their score. However, there are other lesser-known facts that could make or break that three-digit number.
“Nothing affects your financial health more than your credit score,” said Michael Sullivan, a personal finance consultant with Take Charge America, a national nonprofit credit counseling and debt management agency. “But there’s a lot of mystery surrounding credit scores, including how scores increase or decrease.”
Sullivan sheds light on eight surprising facts about your credit score:
For more tips or information about credit counseling, budgeting, debt relief or student loans, visit takechargeamerica.org or call (866) 528-0588.
About Take Charge America, Inc.
Founded in 1987, Take Charge America, Inc. is a nonprofit agency offering financial education and counseling services including credit counseling, debt management, student loan counseling, housing counseling and bankruptcy counseling. It has helped more than 1.6 million consumers nationwide manage their personal finances and debts. To learn more, visit www.takechargeamerica.org or call (888) 822-9193.
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