Are you a credit score superstar? Let’s ask the judges what they think!
So, you’ve just spend another enjoyable evening sitting on the couch watching aspiring musicians try to sing themselves into your heart – but what does that have to do with your credit score?
Well, in the same way that a singing competition can jumpstart a career in the music industry, an excellent credit score and lead to more options when it comes to loans, mortgages and lines of credit.
A high credit score is a sign to lenders that you are a responsible borrower who should be trusted with reasonable interest rates. But, a poor credit score could limit your ability to access the funds you need to move forward in life.
So, just as the singing judges look for your rhythm, pitch and stage presence, what are the credit score judges looking for? Actually, there are five categories that credit bureaus and lenders examine when they are figuring out your credit score. It’s important to understand what these categories so you’ll know what you will have to do to impress the credit score judges.
The infographic below will show you how you are being judged and help you along the way to becoming a credit score superstar. Also, if you want more clarification or just some advice, you can reach a trained credit counsellor at 1-800-632-1722.