Managing Your Credit

It's a fact of life in modern society that your credit worthiness tends to affect just about everything you do. The ongoing joke tends to be that you don't need any money in today's society to buy goods and services, just good credit. That remark is becoming ever more true, and is reflected in stated income home loans to the simple act of getting a cell phone. It's all about your credit. Lenders are starting to believe that if you have good credit you'll either find a way to pay for the loan, or you must know what your doing to have a credit score that high. For the most part that is true. It is much less likely that someone with A++ (720 plus FICO Score)credit will default on a loan then someone with B rated credit (620 FICO Score).

The real problem with not maintaining a credit score of 720+ is the fact that the cost of credit increases significantly the lower your credit score goes. As seen the in the diagram below. For more information on credit and credit scores including what you can do to maintain good credit, follow the links below the diagram.




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