Imagine yourself in the process of finalizing a deal to buy your dream home. It’s an open space… it’s full of light. There’s those spacious granite countertops you like… and stainless steel appliances galore.
You’re having a great conversation with the realtor– it’s almost a done deal.
Then he asks you about your credit. You tell him you don’t have any, or that it’s poor. Suddenly, he tells you that your mortgage rate will be super high, which could mean you’ll end up paying more money over the term of your mortgage. You may not get approved for a mortgage at all!
And now your dream home stays what it was…a dream. Young people often have limited experience with credit and might not realize all the ways that good credit can make life easier.
In a recent MyBankTracker survey, it was revealed that 49.7% of millennials don’t own a credit card. And 53% of those aged 18 to 24 said they don’t have a credit card and never applied. For young people entering the world of adulthood, it is of the utmost importance to establish credit – good credit at that.
If you’re interested in learning about credit scores, this infographic details EVERYTHING you need to know about your credit score and how to boost and maintain it.
It highlights the following:
- What Is a Credit Score, and what factors affect it?
- What Are the Credit Score Ranges and What Do They Mean?
- How You Can Improve Your Credit Score
By the end of the article, you’ll now know how to attain and maintain the ideal credit score. Check it out below.
Infographic designed by Creditpicks
Target URL: https://creditpicks.com/credit-repair/
Brand Anchor Text: best credit repair offers