[Promoted] Credit where it’s due
While some people have the misperception that credit is bad, the truth is that very few of us can live the lives we want without at least some credit.
They also use your credit score to work out your risk profile , which impacts the interest rate they charge you. “The quickest way to damage your credit score is by missing payments, paying late, or not paying the correct amount,” he explains, “every time you do that, the credit agencies will adjust your credit score downwards.”
Making all bill and loan payments on time every month is obvious, but others are too, “Make sure you only ever apply for credit from a registered financial services provider,” he says, “that way you are protected by the Consumer Protection Act.”Warren also recommends regularly checking your credit score.
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