Do you know where your credit score currently stands? Is it good? Bad? Not really sure? Your credit score can have a significant impact on several factors in your life. For example, you might be looking to buy a new car. Your credit score could affect the cost of insurance or the interest you’ll be paying on it. Or maybe you are looking to start your own business? Your credit score could affect your ability to get the loan that you need. A good, bad or even nonexistent credit score will continuously contribute to decisions that our made regarding your financial future. That is why it is important to know and understand how credit works.
In the next few weeks, the Community Bank of the Chesapeake blog will highlight the importance of credit and bring awareness to contributing factors. We will share what credit is, how it is determined, how it can be improved and so much more. Whether you’re looking to refinance your home or looking for your next job, you can be prepared with a strong credit score.