Whether you’re applying for credit such as car loans, mortgages, or credit cards or applying for a new job, you need to know about your 3-digit credit score.
Your credit score is the single most important number in determining if you can borrow money from mortgage, auto or personal lenders. This score also determines the interest rates that lenders will charge you. Simply put, a high credit rating can significantly reduce your borrowing cost – the interest rate you have to pay the lenders.
And if you’re applying for a job, you might be surprised to learn that many companies check credit scores when weighing the merits of applicants1.
References
- Source: Credit Score Demystified [↩]