The Importance of Having a Good Credit Score

Are you thinking about buying a new house or car?  If so, you should take a look at your credit score to see how it will affect your chance of getting approved for a loan
A credit score is a numerical expression based on a statistical analysis of your credit files.  More simply, the number explains your creditworthiness. Your credit score measures your past ability to make payments on time and manage your credit. The score is based on credit report information usually from a credit bureau.
Banks and credit card companies use credit scores to evaluate the risk of lending money to consumers and to reduce losses due to bad debt. Lenders use credit scores to determine who qualifies for a loan, at what interest rate and what credit limits.  
It is also important to know that your credit score reflects your personality and character and follows you forever.  It plays a major role in many financial situations throughout your life.  Employers also prefer a person with a good score and clean report. A high score represents sensibility and a level of responsibility.
Tips for improving your credit score can include:  paying your bills on time, asking for your credit report and thoroughly checking it for flaws, limiting or stop using plastic money and not falling prey to credit repair frauds.  
Be sure to check your credit report regularly. You can obtain a free copy of your credit report by visiting