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SwCA Episode 024: Credit score, who cares?! You should...here's why. (2 of 2)

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Courtney Elizabeth Anderson

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SITE: http://www.courtneyanderson.com/swca-episode-024-financial-fierceness-series-credit-score-who-cares-you-shouldheres-why---part-2-of-2.html

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 2 of a 2 part series.

Who? You! This all about you! You are the product in this interaction. Entities pay (and are paid) to share information about you. This is uniquely about you. 

What? In the USA, the score range is from a low of 300 to a high of 850. The score is a shorthand method to determine the risk in loaning you assets (money, property, etc.).

When? For as long as you are an adult and alive.

Where? In the entire world. You are the product (well your data is) and data is accessible everywhere.

Why? Quick way to determine if you are safe enough (to loan money or property to, to hire, to insure, etc.).

…and I should care?  Yes. High credit scores mean “Yes” to things (buy that house! lease that apartment! get that new car! You are hired for this job!, etc.) and a low enough one means “No” is the answer. Do you want to live somewhere, buy things, work as an employee, be insured, etc.? This score determines if you can do so, where you do so and how much you will pay.

Everyone in the USA is eligible for a free credit report once a year (you can get yours here - https://www.annualcreditreport.com/index.).

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