How does my credit score affect my interest rates?

How does my credit score affect my interest rates?

Your credit score significantly impacts the interest rates lenders offer you. A higher score usually means lower rates.

What credit score range is considered good?

A good credit score typically ranges from 700 to 749. Scores above 750 are considered excellent.

Can I improve my credit score quickly?

Yes, you can improve your credit score by paying bills on time, reducing debt, and checking your credit report for errors.

How often should I check my credit score?

It's a good idea to check your credit score at least once a year, but more frequently if you're planning to make a big purchase.

What are the long-term effects of a low credit score?

A low credit score can lead to higher interest rates, difficulty in obtaining loans, and even challenges in renting a home.