As the years pass, the importance of having a healthy credit score increases. FICO Scores range from 300 to 850 (670 and above is considered healthy by most lenders). Credit scores are used to assess responsibility and risk. So, what are the consequences of a low score?

• Inability to acquire housing, including rental.
• Higher insurance premiums, or the ability to get insurance!
• Denial of employment.
• More costly phone plans and other contracted services.
• Check Your Credit Score Regularly

Monitor your credit history regularly by visiting www.annualcreditreport.com to see your complete credit history for free. You can download each report once a week from the three major US credit bureaus: Transunion, Experian, and Equifax. If errors are found, you can correct those by contacting the lenders or the credit reporting agency. In addition to reviewing your reports you also want to review your score. There are numerous services available to track your credit score. Many credit cards offer some type of monitoring services for you (yes! we are reviewing services like this for our members as well!).

For more in-depth review, CLICK HERE.