Weekly Tip for Dec 06: What About Your FICO Score

<span>Weekly Tip for Dec 06:</span> What About Your FICO Score

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What’s in a score? It can say a lot. It tells lenders, employers, creditors, landlords, and many others who have access to your score whether you are a good candidate to work with.

  • Lenders use the score to qualify you for financing. If your score is too low, they may disqualify you or qualify your application with higher interest. So your financing costs become high.
  • Many employers use the score to determine whether you should be hired. A candidate with a low score generally means that they are not responsible with their credit obligations. This becomes a red flag for employment positions that need responsible candidates.
  • Rental units will view your score when applying for rental housing. If you score is low, you may need the signature of another person in order to obtain the rental unit you want.

So again, what’s in a score? It’s may be time to get your score up for a strong living position.

There are issues that you need to address to increase your FICO score. Please give this tip a quick comment/share and then jump over credit checkup for good credit management and FICO scoring.

Image credit: Credit Score, on Flickr

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Categories: Weekly Sunday Tips

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