Tighter Lending Makes Cracking the System Vital; Benefits of Paying on Time
Are you keeping score?
Credit scores have been getting a lot of attention lately, as lenders tighten
credit standards and contend with new legislation that has, among other things,
reined in how credit-card issuers can raise rates.
Meanwhile, several firms, preying on our insecurities, are pushing credit scores
and credit-score-tracking services for a monthly fee.
For all the attention they generate, though, credit scores are largely misunderstood.
For instance, your precise score matters only when you're in need of new debt,
like a home, auto or education loan or a new credit card, which should be a
fairly rare occurrence.
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