There are many ways you can improve your credit score. One of them is to own a couple of credit cards and regularly make payments on or pay off your balance, covering more than the minimum due, to show that you are reliable and can be trusted with credit. If you do this routinely and don’t let other accounts go delinquent, your credit score will reap the rewards.
Your credit score gives you buying power and determines how much you will pay for that buying power now and over time. Increasing your score just a few points will make a difference in both of those areas too. If your credit score is high enough, you’ll have no problem qualifying for lenders’ best rates on everything from credit cards to auto financing, home loans insurance and even small business loans should that be a goal or desire.
Identity theft is no game, but the stakes can be really high. Your identity is essentially “currency” today and if it’s threatened, jeopardized or worse, stolen, it can hurt you in many ways. Repairing identity theft can take you time and money—not even counting the amount that might be lost before the theft is even seen, found and stopped. Of course, there is also much frustration and stress throughout the entire process as well.
Keeping your credit card safe is your responsibility. In many cases of credit card theft, you’ll be protected from owing the debt. However, if it can be proven that you’ve been negligent in keeping your credit card safe, you might find yourself liable for the cost of all fraudulent transactions made on your account if you lost the card.
From lenders to landlords, to insurers and utility companies, and even employers… many entities and organizations check credit and credit worthiness before deciding to do business – or have a relationship of any kind – with you. Most often, they perform this check by asking for and receiving your credit score.