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July 10, 2013 | improving-your-credit

Amplify Your Credit Score [INFOGRAPHIC]

Your credit score has a substantial impact on your overall cost of living. Consider all the things you could do with the money you would save each month by having lower insurance premiums, a lower car payment, or even a mortgage payment lower than the rent or mortgage you currently pay. Your credit score is calculated using five categories that are all weighted differently. 300 is the lowest possible credit score, while 850 is the highest. Credit unions and financial institutions use your credit score to determine whether they will take you on as a lending risk and to figure out what your interest rate will be. Individuals with good credit scores generally receive lower interest rates than those with poor credit. Check out this Infographic from Amplify Credit Union in Austin, TX to find out more about how your credit score affects your financial life. Please share with your friends and family!