Improving Your Credit, and Credit Score

No the two are not the same thing. Although they may have a symbiotic relationship they are very different. Now I will not go into detail, but I will give you my take on the differences.

Debts you have and owe are basically credit that is extended to you. Having credit is usually a good thing. If you can pay your bills on time and do not spend beyond your means credit can help you out when you buy a home, car, etc.... However, if you do not pay your bills on time and carry too much debt you can count on being denied for a lot big purchases on the horizon. These things will adversely affect your Credit Score and your ability to purchase Homes, Cars, and even obtain more credit.

Credit Scores range from 350 to 850. If you have a lower Credit Score you can expect to be denied for most things that involve checking your Credit, and Credit Score. And if you are approved for lets say a car purchase, you can expect to pay higher interest rates. On the other hand if you have a higher Credit Score you will see lower interest rates and you will realize more opportunities to buy a home or a car.

Like I said before paying your bills on time and not carrying too much debt is one way to keep your Credit clean and your Credit Score Higher. I have included an article that suggests 10 ways to improve your Credit and Credit Scores. And I feel that everyone should read it and take a few tips for themselves to better improve their lives and their way of living.

In the market we find ourselves now if you have bad Credit and a low Credit Score I can almost guarantee that you will not be offered a loan for a home. You can also count on paying higher interest on any loans your are offered. Those that do have good credit are getting some really great Interest Rates on their loans, I have heard and seem them under 6% for people who have great credit.

I suggest if you have plans to purchase a home or anything that requires a Credit check, you should take steps to check your Credit. If you have bad Credit and low Credit Scores, start repairing it so that you can take advantage of home prices that low, and Interest rates that are low as well.

Read this article:

http://www.inman.com/content/story.aspx?ID=65868