That’s the most frequent questions I have been asked by my clients. And the answer is always yes, so long as they pay careful attention to avoid the mistakes made by people who simple don’t know better. Contrary to common misinformation, checking your credit score actually does not harm your score, and it very important because it will help you take better care of your finances and maintain (or enhance) your credit rating. Most financial institutions use your credit score to decide whether or not you qualify for their services. Therefore, the best thing you can do is to keep ensuring that your score is high and shows you to responsible.
What most people do not know is that their score is also an important factor when it comes to renting an apartment, getting a cell phone and even getting a job. Although it’s true that some car dealerships, landlords, cell phone companies and employers use the credit rating to determine how well the client manages their finances, the score is also a key factor in the interest rates they will get on loans which means that a bad score can cost those thousands of dollars annually because of higher interest rates.
What’s the next step?
The first step to repairing your credit score is to find out what it is! I highly recommend the Equifax link below, because I’ve found it to be a super effective and high-rated place to get a detailed copy of your Free Credit Score and report. Best of all, it only takes about a minute!
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