Do you know your credit score?

I bet this is probably something many of you have never heard of. However, knowing your credit score could be very beneficial to you, in particular if you are wanting to borrow money for something, for example a house purchase or motor vehicle. Lenders use your credit score, or credit rating as it is also known, to decide whether to give you credit or loan you money. Your credit score is used to represent your credit worthiness, which translates into the likelihood that you’ll pay your loan off in a timely manner. If you don’t know your credit score and you are knocked back from getting a loan, this could be the reason why the lender has rejected your application. Knowing what it is could help you in the long run. Your credit score is based on personal and financial information about you that’s kept in your credit report. If managed wisely, it can bring you peace of mind. If not managed properly, it could restrict you from borrowing funds and result in you spending more money than necessary to make up for past mistakes. You can receive your credit score for free. There are numerous websites, for example, Credit Savvy, Finder, GetCreditScore, which you can access and your credit score will usually be provided to you within minutes. As usual, avoid any provider that asks you to pay or wants your credit card details. Your task is to now ‘Google’ one of the above websites that I have listed and check your credit score. It will only take you a few minutes and you could be pleasantly surprised or shocked at what your score reveals about your rating. It’s simple, safe and easy to do. Do it now!!