Your is essentially a “snapshot” of how much of a credit risk you are. It therefore carries a lot of weight when it comes to lenders determining whether or not they feel you are credit worthy. If they feel you’re a risk, then often times you will be denied. In some cases, you will still be extended credit… though just not as much as someone with a higher credit score or you will receive a much higher interest rate.  For these reasons, it’s important to try and achieve a high credit score and maintain it, whenever possible. If you already know that your credit score is not as high as you’d like it to be, there ARE things that you can do to improve it!

People often approach their credit reports with fear.  They assume that something negative is on them and that there is not much that they can do about it. The fact is, getting copies of your credit reports and checking them for accuracy should be a part of everyone’s plan. If there is any inaccurate information on your credit report you should know because it directly affects you and your financial life. One of the first steps in getting out of debt and creating a healthy financial life is getting current information about your credit status.  Here is some basic information and frequently asked questions concerning your credit reports.