SwCA Episode 022: Credit score, who cares?! You should...here's why. (1 of 2)

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SHOW NOTES: This episode is part of our FINANCIAL FIERCENESS!™ series! This series integrates our financial goals into our development plan for surpassing our goals. We deal with the specific issues we need to explore in order to achieve (and surpass) our financial goals. In this episode we are examining the issue of, “Credit score, who cares?!” This is Part 1 of a 2 part series.

The credit score is fascinating. We are addressing consumer credit scores in this episode but there are also credit scores (or ratings) for businesses and nations. In general, your consumer credit score is a product that is sold by three major private companies in the USA (Equifax, TransUnion and Experian), to entities about you. The fact that it is sold only because it is about you is the really unique and interesting aspect of the situation. Literally, this is one time in life when it is “all about you!” The situation is that entities want to know if they should loan you money. If you never borrow money (or property), you do not have any interaction with a credit score and this is not the episode for you to listen to! Remember that if you rent an apartment, car, etc., that is considered a financial risk so the credit score will be used. 

This Part 1 of a 2 part episode focuses on an overview of what the credit score is, how it came into existence in modern times and how it impacts your financial life!

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