FMOOD 0354: How to Increase Your Credit Score (And Why It's Important)

Your credit score is more than just a number that financial institutions use to offer lines of credit or loans. The credit score for most people is an important number because there are other entities that will use your credit score to help them to know a little more about you. Two good examples of this are insurance companies and prospective employers.    If your credit score is good, most insurance companies will allow you to pay lower premiums for auto and other types of insurance. Poor credit scores may require a higher premium for insurance. While that might not seem to be fair, this is common practice in most cases. Employers might also pull your credit and view your credit score in order to get an idea of whether or not you might be more prone to participating in risky behaviors, and that ding on your profile in their records might be enough to prevent you from being hired.   While you are in the process of getting out of debt, tune in today to find out how you can raise your credit score at the same time. Your credit score is still relevant, so don't be destructive when it comes to your FICO score.   We don't make the rules, but in the spirit of playing their game the correct way, you'll want to do what you can to always continue improving your credit score as you move forward, and this will help you to make positive changes in your overall financial picture. God bless.