Hidden Ways Your Credit Score Could Be Affecting You
If you’ve ever wondered whether it is possible to get through life without taking out a loan or going into debt, look no further than the United States national debt. Despite boasting the highest GDP of any nation, our government still has more debt than any other country. This shows that debt can be an important part of anyone’s financial strategy. Debt is like fire: If you know what you’re doing with it, it can be a great tool. Used properly, loans can help you buy a home, pay for a car, or even invest in dividend-yielding assets that pay themselves off over time. But fire can also cause burns. Similarly, when used improperly, debt can quickly pile up and destroy things like your credit, limiting your ability to get loans or qualify for a credit card. Your credit score doesn’t only impact your ability to take out loans. Sometimes you may receive credit checks without even realizing it. Bad credit (which is considered any score below 580) can sneak up on you in all areas