Amanda Stanhaus

Tag: credit score

Credit Score

A number that  measures  the quality of  one’s personal financial history. If I take on a bunch of debt AND pay it off on time I’m A-okay at 850. If creditors have me on speed dial, I’m in trouble at 300.

(Originally published on Amanda Stanhaus’s financial literacy vocab blog: XO, Bettie Vocab.)

Credit Score

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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.

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(Originally published on Amanda Stanhaus’s financial literacy blog: XO, Bettie.)