Credit Scores and Why They Matter: A Millennial's Guide

What is a credit score? Understand what a credit score is and how it's calculated. Check your score regularly: Know your credit score and check it regularly to understand your creditworthiness. Pay bills on time: Late payments can significantly impact your credit score, so make sure to pay your bills on time. Keep balances low: High balances on credit cards can negatively affect your credit score, so try to keep your balances low. Use credit responsibly: Only use credit for necessary expenses and pay off balances in full each month to build a positive credit history. Limit credit applications: Too many credit applications can lower your credit score, so only apply for credit when you need it. Correct errors on your report: Check your credit report for errors and dispute them if necessary. Understand the implications: Know how your credit score can impact your ability to get loans, credit cards, or rent an apartment, and take steps to improve your score if necessary.