Keeping Track of Your Credit Score

Your credit score is vital. It will follow you to all your big purchases. It is a piece of information that can determine if you are approved for a loan and what interest you will pay if you are approved. Since credit scores are so important, be sure to educate yourself on how to find and monitor your credit score.

Find Your Score

There are many ways to check your credit score. A few sites include MyFICO, Credit Karma and Credit Sesame. Any lender will pull your credit score from FICO. For the most accurate information, MyFICO is your best bet.

Watch Out for Large Drops

Large drops in your credit score are a red flag. Your credit score will change from month to month, but large changes are what you need to watch out for. A large drop means something negative has happened. Monitor your score and determine exactly what happened.

Monitor for Fraud

Identity theft is a huge issue in today’s day and age. If you are watching your credit score month to month, you can be alerted to problems that could be a result of identity theft much faster.

Achieve Your Goals

When you know your credit score, it is much easier to work toward your personal and financial goals. When you know your situation, you can confidently apply for a loan.

It can be hard to stay on top of your credit score and finances while living a busy life. If you think you need an extra hand, call or email Carolina Money Minders today.