Posted on July - 07 - 2010
Celebrate Your Financial Independence! Your Credit Score Will Get You There
As we celebrate America’s Independence Day, why not start working on your own financial independence by better managing your credit score. In working towards financial independence, your credit score is a crucial initial step to better financial health, as well as something that stays with you throughout your entire life.
Since credit scores are calculated from your credit report, it’s a good and accurate snapshot of your general financial health. How does credit score = financial independence? In a nutshell, your credit score is your key to having financial options. The higher your credit score, the more doors it opens. Credit scores impact almost every financial product, specifically approval for credit cards, ability to borrow money, and interest rates offered by lenders.
Everyone’s path to financial independence will vary, but addressing the five main components of a credit score is a foundation you need to build:
- Credit Card Utilization. This