by Lina Martinez

This might sound like odd advice. Surely, you should be checking your credit score to make sure it is at a healthy point right? Well, maybe but a lot of services that allow you to do this will cause your credit score to drop whenever you check it. That’s because businesses assume if you’re checking your credit score, you must be worried about how you’re spending and how well you are paying back money you owe through debt and bills. So, even just taking a look at your credit score can be damaging. Instead, you need to know how to keep it healthy and what will impact it, so you never have to check.

So first, let’s make sure you know what your credit score is. A credit score is devised from your financial history of borrowing or saving. It should give lenders a clear idea of how effective you are at paying back money that you owe. So, for instance, if you take out a loan, a lender can look at your credit score to determine how much risk they will be under by lending to you.

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What Else Will Your Credit Score Impact?

There are a lot of things a credit score can impact. For instance, you might find that a poor credit score will make a landlord think twice about renting property to you. They could be worried that you won’t pay the rent back at the right time which can be risky for them. Some business employers will also check the credit scores of job candidates. They will do this to make sure that you are reliable and that they can trust you with certain assets in their business. Remember, anyone can access your credit score and check your financial situation.

Though in general, your credit score will typically impact any time you want to borrow money or use a service where you’ll be expected to pay a monthly cost. This includes buying a car, renting a vehicle, buying a home or taking out a short-term loan.

What Impacts Your Credit Score?

There are various factors that can impact your credit score. An extreme example would be Chapter 7 Bankruptcy. When you file, Chapter 7 bankruptcy lawyers should inform you how this will negatively impact your credit score and that it will stay on your history for ten years.

Generally, your credit score will be negatively impacted anytime you fail to pay back the money you have borrowed on time or if you fall behind on payments for things like home bills

Improving Your Score

Finally, you might be tempted to check your credit score and find out whether you need to fix it. But, if you think your credit score has been damaged then you probably already know the answer. As such instead of checking, you should just go straight to taking the right measures. To fix your credit score borrow amounts you can easily pay back or pay back early. Your credit score will improve if you do this and you won’t even need to check it yourself.

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