Its something that we might not realize we should check or even care to check, But knowing what your credit score is essential. It’s part of our responsibility as adults. You might be asking why is my credit score important? I pay my bills on time, I know how many credit cards I have I dont not need to worry. Although we do applaud you for on-time bill payments and that will reflect in your favor on your credit score, But still, you need to know what is going on you credit score. Sometimes there are bills that we accidentally forget to pay or some type of discrepancy shows up on our credit report and if we do not get it taken care of we risk messing up our score.
We asked our friends at credit score api for some help in this area. Just like you, we discovered that we still had some much to learn about when it comes to our score. When asked how many people do not know what their credit score is the answer was shocking. On average 40% of Americans do not check their credit score or know what their credit score is. That is insane! Well, we discovered that we aren’t really taught to make our score seem important we are not taught about a credit score in grade school even though we really should be being taught.
So why do you need to check your credit score? We are going to explain everything you need to know about your credit score.
Set yourself up for success
Knowing what your credit score can save you a lot of time and money actually! When you are looking for a home or a car and anything that needs to be financed your credit score is going to be the major deciding factor and what type of loan you end up getting and at what rate. It is no secret that the better your credit score is the better your rates are going to be. Which means that will save you money in the long run.
Five reasons to check your credit score
Your credit score should be checked at least once a year. You are going to want to make sure that everything looks good and is accurate with your credit score. Again sometimes bills get paid late accidentally or even forgotten about. When an account hits collections it brings your score down. You want to be sure that something did not get overlooked. Now if you find anything suspicious on your credit report you should immediately call the collection agency reporting it. Be sure to save proof about payments paid.
1. Being able to fix your score- Sometimes things happen bills forget to be paid, or the company forgets to say that it was paid. An account in collections brings your score down and can look bad to creditors and lenders if you are looking to finance something.
2. Peace of mind- knowing what your credit score is and knowing that nothing on it is negative. You want to make sure that it looks perfect
3. It’s free- It is free to check your credit score once a year. Take advantage of it! There is really no reason you should not know what your credit is. Remember knowledge is power!
We hope this was helpful to you and that you take this and check your credit score. You are definitely going to want to know what your score is. Let’s face it you need good credit to have a roof over your head. Do not risk the stress of not knowing what your score is!
