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Whether or not you have a good credit score or a bad credit score is not always an accurate representation of your worth as a person—but try telling that to the bank, the landlord, the mortgage company, and just about everyone else in the business world.
What Is Credit Scoring?
Credit scoring is the method that prospective lenders, other potential creditors, and sometimes even employers use to determine your financial dependability, credibility, and even how responsible you are with your life. The average American credit score is about 650, so that is a good place to start; most creditors look for something on or about what is considered to be the national average credit score. If you are near or even above that 650 mark, you can rest assured that you are in good hands, financially at least.
Keeping a Good Credit Score
Keeping a good credit score is about staying up on your bills and other financial obligations. Almost every financial aspect of your life can affect your credit score, including any savings and checking accounts, utilities that are billed in your name, or even your lease or rental agreement.
Credit Cards
Credit cards are just one of many ways that people go about getting and maintaining a good credit score. In essence, you are eligible for credit as soon as you turn the legal consenting age of 18. Many people start out building good credit by obtaining a credit card and using it while continuing faithfully to put at least the monthly payment amount towards the balance. There are pros and cons to this; the first is that if you should suddenly become unable to make your monthly payments, you are beginning to negatively affect your credit score.
Accounts
Savings and checking accounts, especially credit union accounts, are an excellent way of building good credit if you about it the right way. The worst thing that you can do to your good credit score is to open a checking account and start writing bad checks; not only can that get you into legal trouble but it can get you into real financial trouble as well. When you get a checking account, you often get a debit card as well; many times these debit cards have the Visa or Mastercard logo on the front. While this is not an actual credit card, debit cards are another good way of using your checking account to build good credit.
Bills
Paying bills on time are also a good way to improve your credit score. If you think about it, bills are an informal extension of credit to you; by paying your bills on time, you are indicating to the company and the credit bureaus that you care about your debts, and are working to stay up on them. What else can that lead to, but a good credit score in the end? Some of the bills that you might have now that paying on time can help you get the good credit score you need are:
- Electric Bills
- Cellular Phone Bills
- Car Payments
- House Payments
- School Loan Payments
Vehicle or Home Loans
While home loans can be a bit difficult to obtain with little or poor credit, there are some car dealerships out there that do their own financing that will help you get a vehicle off of the lot. Paying your loan payment on time every month is an excellent way to establish good credit or repair credit that needs help. Inquire how often your lender reports to the credit bureau to get an idea on how long it may take you to build or repair your credit.
Living Without A Good Credit Score
While having and maintaining a good credit score is extremely important in life, know that it is not everything. Plenty of people out there who failed to protect their all-important credit are able to get home loans, car loans, credit cards, and bank accounts just fine. There is no denying that having a good credit score is a great deal less expensive in the long run as far as interest rates and other things go, but there is life after bad credit.
Credit Report
The three major credit reporting agencies are Equifax, Experian, and TransUnion. You are entitled to one free credit report each year, so be sure to check your credit report annually for errors or strange charges.
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French is often called the language of love, and some of the best well-known French romantic sayings are used the world over even as universal language. Je t’aime is known universally as the French way of saying ‘I love you’, and there are many more French phrases you can use to make clear how you [...]
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While using romantic French phrases to woo your beloved isn’t guaranteed to work, it may just help get your foot in the door for a romantic evening ahead.
Romantic French Phrases for Flirting
Before you can get to the romance part, you need to do a little flirting! The subtle art of flirting in France is actually [...]
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If you like the idea of having a cocktail and dessert all in one glass, then consider making a chocolate martini recipe. It’s a delicious follow-up to a meal, or an ideal cocktail for those of us who love chocolate.
Basic Ingredients in a Chocolate Martini Recipe
Although there are many variations on this popular cocktail, most [...]
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Whether you are planning for a party or simply wondering what to order during your next night out on the town, you should review a list of popular cocktails. Cocktails typically contain one or more types of liquor along with several mixers, such as fruit juice, honey, bitters, soda or cream.
List of Popular Cocktails by [...]
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The cut of a diamond refers to the angles and proportions of the stone and has nothing to do with its shape. Diamond cuts are designed cut to internally reflect light from one mirror-like facet to another, dispersing and reflecting it through the top of the stone. This brilliance is known as the diamond’s “fire.” [...]
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Chocolate diamonds are growing in popularity. They can be a great choice for someone looking for an engagement ring that is a little different.
When we think of diamond engagement rings we traditionally think of a ring set with a bright sparkling clear diamond. For years the most sought after diamonds have been clear white diamonds. [...]
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If you’re wondering how to buy the best diamond engagement ring, chances are there is a proposal in the near future. There is no one definition of what constitutes the “best” diamond ring, but the perfect ring will be the one that is favored in the eyes of the recipient. That being said, there are [...]
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As April first approaches, check out the best April Fool pranks to help you plan your own humorous attacks on friends and family. Prank them before they prank you!
Rank
Item
Why is it the best
1.
Corporate pranks
Some of the best April Fool pranks have come from businesses with the money to pull off an impressive joke. [...]
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Senior pranks are a long-standing, though unofficial, tradition at many high schools. After four years of studious conformity, pranks are a way many students assert their independence and celebrate their impending adulthood after graduation. When deciding on a particular prank, however, it is critical for students to recognize the fine line between a mischievous prank [...]
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The best pranks to do at home add a surprise to everyday life. The home is an ideal place to plan a great prank.
From your victim’s room, to prized possessions, and even his or her sleeping body, you have access to a great prank you could only dream about with schoolmates and co-workers. However, the [...]
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