Your Credit Score

A credit score is a numeric evaluation that reflects how responsibly you manage your debts and payments. It's issued by agencies like TransUnion, Equifax, and Experian, and typically ranges from 300 to 850 points. The higher it is, the stronger your history.

Why does it matter?

Your score affects whether you're approved for a loan, the interest rate you're offered, and even renting a home. A good score can save you thousands of dollars in interest over your lifetime.

The keys to a high score

• Pay on time: payment history is the single most important factor.
• Use less than 30% of your limit: keeping credit usage low shows control.
• Keep your old accounts: a longer history strengthens your profile.

What hurts it

Late payments, overusing your cards, and applying for a lot of credit in a short time can lower your score. The good news is that, with consistent habits, a low score can recover.