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in the future. Credit scores can range between a low score of 300 and a
high score of 850. The higher the score, the
better it is for the consumer, because a high credit score translates
into a low interest rate. This can save literally thousands of dollars
in financing fees over the life of the loan. Only one out of 1,300
people in the United States have a credit score above 800. These are
people with a stellar credit rating that get the best interest rates.
On the other hand, one out of every eight prospective home buyers is
faced with the possibility that they may not qualify for the home loan
they want because they have a score falling between 500 and 600.
Finding out what your credit is prior to applying for any credit is
crucial. After all, you do not want to be that one out of 8 home buyers
that is denied for credit. 
;)
;)
