In addition, you might have to undergo a credit check if you’re trying to get a cell phone or utility services in your name. A poor credit score could be a deal-breaker for getting a lease. For example, if you’re trying to rent an apartment, the landlord might perform a credit check. This keeps more of your money in your pocket since you’re paying less in total interest over time.Ĭredit scores can also affect other parts of your financial life. When you’re borrowing, even if it’s a small amount of money, you want the lowest interest rate possible. A higher credit score can translate to a lower interest rate and vice versa. Not only that, but your credit scores can also influence the interest rates you pay to borrow. But credit scores can trump those things when it comes to getting approved for a loan or credit card. Your income, debt, assets, and employment history can also come into play. Now, those aren’t the only things they consider. If you need a car loan, want to open a credit card, or even buy a home, lenders are going to look at your credit score. Your credit score can affect your financial life in multiple ways. Your best bet there is to avoid maxing out your cards and pay off your balance in full each month, if possible. VantageScores tend to focus more on how much you owe compared to your total credit limit. With Chime, you can also set up direct deposit and get paid up to 2 days early². One way you can ensure that you’re paying bills on time each month is to set up automatic payments from your checking account.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |