Calculating Your Credit Score

Your credit score has become increasingly important in many aspects of your financial--and even personal--activities. It's well known that a healthy credit score is required for loans, like for a Chicago condo or suburban Chicago condo, but did you know that credit standing is often looked at to determine your risk for insurance, and sometimes even a job?

With so much hinging on one's credit score, it's unfortunate that so few people really understand how it is calculated. People often view their credit score as part science, part art, maybe even part weird magic. But although it is admitedly somewhat complicated, it is relatively easy to understand the basics and,  most importantly, what it takes to achieve  a high(er) score and how to stay there. It's important to realize that not every action you take or don't take has the same impact as others.

"There's more to a credit score than paying your bills on time," says atorney and loan professional Larry Bettag. Check out his Five Factors Affecting Your Credit Score.