Credit Score-credit Counselor

How did you feel when you saw a grade A on your school report card? How did you feel when you saw a grade D on your report card? How will you feel when you see the three magic numbers on your financial report card? It's more popular than a report card and has more impact on your life than your GPA ever will. It's your credit score -- the closest thing to a financial report card there is.

Are you a 768? An 820? A 362 (gasp!)? A short time ago, you would have had no way to answer the ever-elusive question (and painfully unpopular pick-up line): "So, what's your credit score?" A credit score is a statistical method of assessing your creditworthiness. Your credit card history; amount of outstanding debt; the type of credit you use; negative information such as bankruptcies or late payments; collection accounts and judgments; too little credit history and too many credit lines with the maximum amount borrowed are all included in credit-scoring models to determine your credit score.

It is always a good decision to have a good credit score. The reason being that the lending industry uses your credit score for a quick, objective assessment of consumer credit risk, called a “credit trustworthiness” or “credit karma.” If your credit score is bad, you should put your repair shoes on and work your way out from being in debt. That is the probably the reason why you have a bad score. If so, you should contact a professional credit counselor and seek advice on handling your financial budget. The credit counselor will help save you 40-50% on your debt, and will help improve your credit score in the long run.