Your credit score and why it mat­ters

The Palm Beach Post - Residences - - Advertiser Index -

As the say­ing goes, no pain, no gain. In­vest­ing time now to un­der­stand your credit re­port and credit score will pay big div­i­dends through­out your life. rates and the best terms.

Your score helps busi­nesses pre­dict the odds that you’ll go 90 days past due (or de­fault) in the next two years on money that they lend you. many re­quests for credit, es­pe­cially in a rel­a­tively short pe­riod of time, is a neg­a­tive): 10 per­cent of your score.

Types of credit you use: 10 per­cent of your score.

Lenders for mort­gages, auto loans and credit cards use your score to help un­der­stand your abil­ity to pay debt, based on your past pay­ment his­tory. Some newer credit mod­els fac­tor in your in­come and job his­tory.

How­ever, the old say­ing re­mains true: The best pre­dic­tor of fu­ture be­hav­ior (in this case, pay­ing bills on time) is past be­hav­ior.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.