October 31, 2009
How Is My Credit Score Related to My Credit Report?
I learned about my credit report but what is my credit score? I did some research and found that the credit score is a quick way for credit and lending companies to determine whether they will loan to you. Based on many factors within your credit report, a score is assigned to it. Things like late payments, missed payments, and high balances on credit cards will all lower your score. Paying off credit cards by paying more than the minimum each month is one way to improve your score. If you can keep your balance low on each credit card, that helps your score too.
