What exactly is a credit score, and does it really matter?
Let's demystify the concept and explore its significance.
Around 90% of lenders use credit scores to assess potential borrowers, which means it directly impacts the loans you can get, the interest rates you'll pay, and the terms you'll be offered.
It also affects your ability to rent a home, influences insurance rates, determines utility deposits, and even impacts your job prospects. In short, your credit score holds significant sway over your financial opportunities.
In this episode, we're going to crack open the vault and dive deep into the world of credit scores. I'll break down exactly how they work, what factors influence them, and, most importantly, how you can improve and maintain a healthy credit score.
Take charge of your financial well-being today. Hit that play button and empower yourself with the knowledge to make smarter financial decisions.
IN TODAY’S EPISODE, I DISCUSS:
- What credit scores are and why they matter for borrowing
- Five levels of credit score
- How FICO Scores are calculated
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TAKE THE FINANCIAL FREEDOM QUIZ:
Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com
OTHER RESOURCES:
Get your FICO score for free: https://www.myfico.com/credit-education/whats-in-your-credit-score
Get your free credit report: https://www.freecreditreport.com
7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com
Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/
CONNECT WITH ME:
Website: MelAbraham.com
YouTube: MelAbraham.com/tube/
Instagram (@melabraham9): MelAbraham.com/ig/
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham
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