You’ve probably heard a lot about your credit score over the years, but have you ever actually looked under the hood and try to better understand it? If you’re answer is no – don’t worry, you’re not alone. Surveys have shown that Americans simply don’t know enough about how credit scores work and the effects their score can have on their lives.
Credit utilization: What a sexy topic, right? It’s up there with Annual Percentage Rates and 401(k) rollovers. Despite the impact credit utilization can have on your credit score, aka your life, I’ve noticed very few people understand it.