When you apply for a loan or a credit card, rent an apartment or even apply for a job, the lender,
credit card company, landlord or employer may look up your credit score to understand if you’ve
paid your prior bills or debts on time.
If you’ve paid your bills or debts on time and have a good credit score, you’ll be more likely to qualify for
and pay lower interest, be more likely to be accepted as a tenant or as an employee. If you haven’t paid your bills or debts
on time, then you may be denied the loan, the credit card, the apartment or the job.
Whether you’re buying a home, a car or applying for a credit card – lenders want to know the risk they’re taking by lending you money. FICO® Scores are the credit scores used by 90% of top lenders to determine your credit risk. Your FICO® Scores (you have FICO® Scores for each of the 3 major bureaus) can affect how much money a lender will lend you and at what terms (interest rate). Higher FICO® Scores can often help you qualify for better rates from lenders – which can save you money!
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