Building a Good Credit Score

Do you know your credit score? Part of maintaining a healthy credit score is checking on it regularly. 27% of people fall into the “good” range on their credit score. The distribution of population versus credit score is widely dispersed, so it’s important to know where you stand. Your credit score plays an instrumental role in securing a loan, mortgage, a new place to live or a good rate on your insurance policies. It’s worth it to know how to keep your credit score in tip-top shape. It will save you time and money in the future, and score you peace of mind in the meantime.

Credit scores are easy to stow away back of mind. They only get talked about when we need to secure a major financial asset, like a loan or a mortgage. Your credit score speaks volumes about your financial history, but it can always be improved! Pay credit card balances in full and try not to carry any debt.

Avoid opening several new credit card accounts at once. Keep your old accounts open so you can display a long track record of financial responsibility. You’ll be on your way to a new home, loan or insurance policy in no time!

Infographic Source: http://www.mortgagesmortgages.ca/good-credit-score