How to Improve Your Credit Score
Your credit score is a vital part of your financial health. Whether you're applying for a loan, credit card, mortgage, or even renting an apartment, your credit score plays a major role in the approval process. A higher score not only improves your chances of approval but can also help you qualify for better terms and lower interest rates. Learning how to improve your credit score can empower you to take control of your financial future. What Is a Credit Score? A credit score is a three-digit number that reflects your creditworthiness. It typically ranges from 300 to 850 . The higher the number, the better your credit profile appears to lenders. Credit scores are calculated by credit bureaus such as Experian, Equifax, and TransUnion based on various factors related to your borrowing and repayment history. Why Is a Good Credit Score Important? A strong credit score gives you access to: Lower interest rates on loans and credit cards Higher credit limits Easier approval for rental...