It’s financial literacy month, so this post is focused on something all consumers should know: How are credit scores calculated?
Banks and lenders use credit scores to see how reliable consumers (people like you and me) are and to understand the likelihood that they will pay back a loan.
A good credit score = a reliable consumer.
A bad credit score = a risky consumer.
[Read more…] about How Are Credit Scores Calculated: A Beginner’s Guide