About us

Three Reasons Why Having a Healthy Credit Score is Essential to Financial Freedom
by Julie Fahnestock Oct 26, 2021 | Entrepreneurship, Lending, Mobile banking, Small business | 0 Comments

Perhaps you, like many of us, find credit confusing. Maybe you aren’t familiar with credit and its uses — perhaps you have never had access to beneficial information, getting conflicting advice, or are new to our financial system.
While we all know that a credit score enables us to borrow money to purchase goods or services we need now and pay that money back in the future, we might not know exactly what a lender looks for to gauge whether we will pay back the money on time. And we may not always recognize the actual cost of borrowing. For example, one way lenders gauge whether we are a safe bet when we apply for a personal loan is by using our credit score as a measure. But what is a credit score exactly?
A credit score is a three-digit number between 350 and 800. Your credit score is calculated using several different criteria that include your payment history, the amount of debt you have, and the length of your credit history.