I’m not sure why I had a positive change, but my guess is that I am slowly paying down my student loans and might have increased my debt to credit ratio by getting a new credit card.
Either way, I’m grateful to know that my credit score is excellent, just like I’m grateful to know how much debt I have, how much the hubs’ med school costs, and how long it will take me to pay off my student debts.
Why am I grateful to know this information? After all, doesn’t adding up med school loans make me want to puke? Well, yes, but my only real answer to that is knowledge is power.
You can’t hide from your debt. You can’t hide from a low credit score. You can’t bury bills and expect them to go away.
You just gotta deal with them!
That’s the responsible thing to do. I was just chatting about credit scores with a good friend of mine, and he said to me, “But Cat I’m scared! I made some bad mistakes in the past. I don’t want to know my score.” I told him he had to haha. Besides, we’ve all made money mistakes, some worse than others, but there’s no bigger mistake than not being aware of your finances.
Granted, many people are confused when it comes to understanding and monitoring their credit score. Knowing how to find your credit report is important and learning how to check it properly is even more important. Having this knowledge can have a positive effect on your financial future and how you live your life. After all, if you ignore it, you might be prone to making more mistakes, and we don’t want all that!
Clearing the Confusion
Many people know about the three free credit reports most people in the United States can obtain each year but what these reports do not show is your credit score. While the other information is important, not seeing your credit score means you are only receiving a fraction of the story you need to know!
So, I use Credit Sesame to look up my credit score fo’ free! I use this and the hubs uses it so I can tell you that it’s legitimate and uses data from Experian to calculate your score. It’s not an official FICO score, but it will give you a ballpark figure. Plus, like I said in the intro of this post, they’ll also send you little notes while they are monitoring your credit – fo’ free!
Knowing in Time
Remember also that timing is everything when it comes to your credit score, and so you should check it a few times a year. The more you know about your credit score on a continual basis, the easier it will be to make solid financial decisions as the year goes by.
Plus, knowing your score can not only alert you as to how your actions are affecting your credit, but it can also let you know if you have been the victim of identity theft.
So, now that you know how to figure out your score, go on and pull up your bootstraps and go find it! Don’t be scuured. Like I said, we’ve all made mistakes in the past, and the first step to getting over the hurdle and making your way to financial success is knowing the number.
Do you check your credit score regularly?