Why Your Credit Score Matters - Money Tip Tuesday

<p style="text-align:left;">You probably know about your credit score, but do you know why it matters? In this tip we talk about your credit score, why it's important, and some tips on how to raise your credit. </p> <ul style="text-align:left;"><li>Learn more about your credit score: <a href='https://www.nerdwallet.com/article/finance/great-credit-powerful-tool'>https://www.nerdwallet.com/article/finance/great-credit-powerful-tool</a></li> <li>With a Triangle <a href='https://www.trianglecu.org/home/personal/accounts/betterchecking'>Better Checking</a> account you can get a free credit report every 30 days when you register at <a href='https://www.idprotectme247.com/sec/'>idprotectme247.com</a>. If you don't have your registration code contact <a href='https://www.trianglecu.org/home/contact'>Triangle Credit Union</a>. </li> <li>Check out <a href='https://www.nerdwallet.com/l/free-credit-score?trk=nw_gn_5.0'>Nerdwallet</a> or <a href='https://www.annualcreditreport.com/index.action'>annualcreditreport.com</a> to get a copy of your credit report.</li> </ul> <p style="text-align:left;">Like what you heard? Go ahead and share on your social media! Visit <a href='https://www.trianglecu.org/home/home'>trianglecu.org</a> to learn more about how we can serve you and don't forget to follow us on <a href='https://www.facebook.com/trianglecu'>Facebook</a> and <a href='http://www.twitter.com/trianglecu'>Twitter</a>!</p> <p style="text-align:left;">Transcript:</p> <p style="text-align:left;">Welcome to Money Tip Tuesday from the Making Money Personal podcast. </p> <p style="text-align:left;">First, it's important to understand how your credit score works. There are five factors to how your credit is scored – payment history, balances owed, age of credit, credit mix, and recent activity. Payment history and balances owed have the largest impact on your score. Credit is scored on a 300 to 850 scale. Credit scored from 300 to 629 is considered bad and credit in the 630 to 689 range is considered fair. What you want to aim for