Credit Score Tips You Need To Know
May 30, 2009
Your credit score is probably one of the most frequently used and misunderstood numbers in your life. Trying to figure out how to improve your credit score can be frustrating, in fact, there’s enough information about credit scores to fill a whole book!
Here was my question for Liz. Your last book, “Your Credit Score, Your Money & What’s at Stake“, is an in-depth look at how a consumer’s credit score can impact their finances. You recently came out with an updated version to address issues people are experiencing due to the recession and credit crunch. What are the most important updates that people should be aware of regarding their credit?
Credit card companies are slashing credit limits, which can have a negative impact on your score. If you have good credit, it’s important to push back against these limit cuts.
I also recommend people start diversifying their credit, just like they diversify their investments. If all your credit cards are with a single issuer, you’re at the mercy of that issuer’s policies
Tomorrow we’ll take a look at my last question for Liz. I know a lot of people have lost their jobs or are struggling financially due to the bad economy. She shares her thoughts on what changes she would make to stretch her dollars if she suddenly lost her job.
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