This week at the Trans World Assurance blog we will feature a series of articles on building a good credit score from Jeff Burch's Survival Tactics Money Book. This book is written for members of the U.S. Military and is filled with useful strategies on how to stretch, save & spend your paycheck.
"Credit has become a significant part of many people’s financial lives. When purchasing a car or house on credit, your credit rating will be the number one factor in qualifying for loans from lenders. Having good credit will allow you to borrow money, but more importantly, at lower interest rates. Having a low score typically triggers higher interest rates that can cost you lots of money. Therefore, it’s in your best interest to have and maintain the best credit score possible. Because having a good score is important, it’s crucial to understand how the credit reporting system works." (Jeff Burch, Money Book)
The TWA blog articles this week will cover the following four topics:
- HOW THE CREDIT SYSTEM WORKS
- VANTAGESCORE and FICO
- TIPS TO IMPROVE CREDIT SCORES
- BIG CREDIT MISTAKES TO AVOID