Credit Score
by astanhaus
Yah, he did! Slow and steady student debt payments win the race to a sexy credit score.
(click on the bold-faced vocab words:))
Believe me, there was no thrill of the chase with creditors calling me constantly.
A credit score is a number that tells lenders how good I am at keeping promises —promises that I’ll pay them back.
Numbers can range from 300 to 850. Bigger is better.
Lots of things are taken into account in the calculation. Taking out a few loans ups my credit score, and so does paying debt payments by their due date.
A high credit score puts my best foot forward, whether applying for a new credit card or a mortgage.
I rewarded myself with a promise (to pay my debts) ring.
(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)
