Your credit score is one of the most important things you will need for a lot of things in your life, like qualifying for a mortgage to buy a house, getting a home equity line of credit for college, buying a new car, even getting a job.
You want to protect your credit, and for good reason. Today it’s common for hackers to steal identity information and run a credit rating into the ground. The following tips can help you protect your credit:
Monitor Your FICO Score. Ranked from a score of 300 to 850, your FICO score shows lenders how responsible you are financially and whether you’re likely to keep up with monthly payments. Research shows that the average FICO score in the U.S. is 695; 30% of people in their 50s have scores over 780, an excellent score, according to Forbes. You can monitor your FICO score easily, as most credit card statements include your score each month.
Protect Yourself Against Identity Theft. Do this, Forbes advises: