Your credit score will be a major reason why you can do anything financially in your life. If you do not have credit, this will mean that you will have to pay for everything in cash, which can make life very difficult.
This affects everything within your financial life. Your credit score will determine whether you can rent an apartment, buy a car without paying cash, get a mortgage at a decent rate, or even get certain jobs. You must have good credit to allow yourself to live the best life without having to overpay for credit.
If you are discouraged about your credit, take heart in a new study which was done by Experian, one of the three major credit bureaus in the United States. This study was just completed recently and it showed that many individuals were able to raise their scores significantly. To give you a little background on how a credit score is determined, it is based upon certain factors such as paying your bills on time, how much you owe compared to your credit limits, and if you have any negative public information such as collections.
The study which was published on October 16, 2007 showed that roughly one in six people with a credit score...
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