In short, your credit score helps determine how expensive your financial life is going to be. You can get access to your credit report from the three credit reporting agencies: Equifax EFX , Experian, and Transunion TRU . A good rule of thumb is to keep your credit usage to less than 30 percent of your credit line. If your account is in good standing, you can often get approved for credit line increases, which generally improves your credit usage numbers. The hard pull can impact your credit score negatively if you’ve had several new inquiries on your credit report in the past 24 months.

Source: Forbes November 03, 2021 01:57 UTC