Credit Scores, Loans, and You!

As a finance manager, I cannot overemphasize how important it is for you to pay attention to your credit scores! As a consumer you are entitled to one free credit report for each of the three main credit bureau companies (Trans Union, Experian and Equifax) per year at no charge. The website to receive and view this data is https://www.annualcreditreport.com. By viewing your credit reports each year, you can pick up on errors in reporting and have them fixed before you make a purchase. Catching these errors sooner rather than later will save you headaches down the road. Achieving and maintaining an excellent credit score is important because people with higher scores are more likely to be approved for loans and have access to lower interest rates. When arranging an auto loan for you, a strong credit score will get a lower interest rate, allowing you to pay less to the lender for the same amount of money borrowed than someone with a lower score. Your good credit score is the key to your purchasing freedom and excellent interest rates.

-Josh Glazier, Financial Services Manager