The Wealth Building Way platform has launched a new report to help people understand their credit score and improve or build upon it through practical strategies. The team explain the implications of both good and bad credit scores.
Are you aware of the impact your credit score has on your life? Do you want to build or improve your score from nothing? Are you put off because the process intimidates or worries you? Whatever your situation, this report can help you build or improve your credit score!
A new report has been launched aimed at you if you want to build and improve your credit score regardless of your age. The team at the Wealth Building Way explains their mission is to empower you, whether you want to learn the latest investment trends, how to be savvy with your money, or what is required to build credit.
You can read the report in full at https://wealthbuildingway.com/everything-you-need-to-know-about-how-to-build-credit/
The newly launched report starts out by explaining to you that building credit does not have to be as daunting or intimidating as you may think. The team explains that building credit and having a good credit score can be beneficial to you for multiple reasons as it can impact your ability to secure finance to purchase insurance, a car, home, or even a cell phone.
In addition, the team explains that having a good credit score does not just provide access to greater financial opportunities, it also enables you to get credit for less as you may find a better score enables you to secure low interest rates. The Wealth Building Way team explain it is important not to rely on your credit score or history, but rather to view it as a useful tool.
In case you are wondering, a good credit score is generally viewed at 720 or more explain the team, but they add it may vary depending on the organization checking your score. It is generally accepted that the higher the number, the better your credit score.
Things that can negatively impact your credit score include unnoticed errors, paying your bills late or not at all, canceling credit cards that may be useful, and borrowing more than 20% of your credit limit.
Additionally, the team explain the five elements that contribute to your credit score, which includes your payment history, amounts owed, length of credit history, new credit, and your overall credit mix.
A spokesperson said: “Increasing your score and learning how to establish credit is not as difficult as you may think. Once you realize what impacts your credit score, you can make relatively easy changes that will begin to improve it.”
You can read the report in full by visiting the link provided!