You can’t put a price on good credit, but your score can lower the price of major life purchases. A good credit score makes it easier to borrow money for a major purchase, like a home or vehicle, and easier to pay them off with the best interest rates. In honor of National Credit Education Month which occurs every March, Money Fit offers 31 daily tips, one for each day of the month, to help people to not only understand their consumer credit reports and scores but to know how to build them.
What’s a Good Credit Score?
Your credit score is not a measure of your overall financial health. Your credit score is a three-digit number that shows lenders how responsible you are at managing debt. FICO scores are the most widely used type of credit scores. They typically range between 300 to 850.
You actually have many different credit scores, but they’re all based on information in your credit reports from the three major credit bureaus: Equifax, Experian and TransUnion. Whether you’re building credit from scratch or trying to improve, boosting your credit score is a doable goal. An excellent credit score doesn’t happens overnight but it can be easier to achieve than you think.
Why Your Credit Reports Matter
What are the biggest advantages of a good credit score? CNBC recently published this guide with the six major ways that a good credit score can improve your life from having an easier time renting an apartment to getting the best rates on auto loans, homeowners insurance and more.
Since credit reports may affect your mortgage rates, credit card approvals and even job applications, reviewing them regularly helps you catch signs of identify theft early. Federal law gives you the right to get a free copy of your credit report every 12 months from each of the three nationwide credit bureaus. The Federal Trade Commission has compiled this online consumer advice on how to get your free annual reports and how to monitor them >
Give Your Credit Score A Free Checkup You Can Bank On
The best way to improve your credit score is an easy-to-follow roadmap. Yahoo Finance has compiled 10 ways to improve your credit score in 2025 >
At Heritage Valley, we know that looking at your credit report can be confusing and that’s where we come in. We offer free credit checkups to our members. One of our loan officers will work with you to understand your score and report, and show you where you can save money. If your credit needs a checkup, we’re here to help you check out how you can improve it >
Get Credit Tips Down With This Free Download
Credit Education Month was founded to increase awareness about the importance of building a positive credit profile. This March, we’ll be providing strategies and easy to implement tips on how to work toward a great credit score and excellent credit history.
The National Financial Educators Council participates in Credit Education Month by making resources available that provide practical information and strategies to help people improve their credit ratings. Their free Credit Education Guide focuses on credit: how credit affects your personal financial situation and how to get and maintain good credit. Download it here >
Share this article
