Your credit score predicts how likely you are to repay your loans on time. It uses information such as your bill-paying history, your number of credit accounts and any unpaid debts. A good credit score is important, as it proves to lenders that you are reliable. It impacts your ability to get a mortgage loan, open another line of credit and more. Here are five ways to build and maintain a good credit score.
While you may have once thought of your credit score as some arbitrary number, we hope you feel like you now have a better grasp on managing and growing your credit score. At Stanley Martin Homes, we know that navigating the world of credit can feel overwhelming; however, following these steps will help you get and keep your credit score on track!