Keeping Good Credit Now Vital in Today's Economy
Wed, 24 Sep, 2008Billion dollar bailouts, mergers and market meltdowns, and an uneasy economy.
Things are tightening up in the financial world and yours, but what can you do to protect yourself in these hard financial times?
As KLTV 7's Layron Livingston explains, the answer may be hidden behind a simple three digit number.
Seems those with the money now need the money - which means they're not readily going to be giving you the money.
"It's going to be much more important in the future that we're improving our credit score in order to be able to get approved."
Glyndel Corzine with Consumer Credit Counseling Service says lenders will be keeping a watchful eye, now more than ever.
"It's going to be the same with buying an auto, it's going to be...applying for credit even it's a credit card," said Corzine.
The higher the credit score, the lower the interest rates and chance for approval when you need credit for those major purchases.
Like buying a home - and these days, mortgages are hard to come by.
"It's important that we maintain that credit score," said Corzine.
Start by pulling a free copy of your credit report from one of the three bureaus and requesting your score.
"You want to make sure that information is accurate....because if there's something inaccurate there, that can bring your score down," said Corzine.
Source: http://www.kltv.com/
