Checking Your Credit Score

The Importance of Monitoring Your Credit Score When you're in the market for a car or looking to take out a mortgage, keeping a close eye on your credit score is a smart move. Lenders rely heavily on these numbers to make key decisions about extending your credit limits and offering rewards. Why Regular Checks Are Crucial Regularly checking your credit score helps prevent surprises. Lenders use this score to gauge how likely you are to repay borrowed funds. Essentially, it acts as a snapshot of your financial risk at a specific moment. The higher your score, the better your chances of securing favorable terms and receiving attractive incentives. Trusting FICO Scores Since the 1960s, the Fair Isaac Corporation's software has been the go-to calculator for credit scores. FICO scores, endorsed by the top three U.S. credit agencies—Equifax, TransUnion, and Experian—are among the most reliable. However, they're not immune [...]