does credit score matter

A higher credit score earns you a lower mortgage rate, which means you’ll save by paying less in interest. Scores of 720 and up earn the best rates on conventional mortgages. Learn more about how.

You may not realize that you have more than one credit score, or that credit card companies and other lenders use different credit scoring models. Generally speaking, the highest credit score in most consumer credit scoring models is 850, although there are less frequently used scoring models that go as high as 900.

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Bad credit could mean a higher mortgage payment. Worse than that, your mortgage application could be turned down because of your bad credit. Don’t think that because you’re not looking to buy a house right now that your credit isn’t important. Landlords also use your credit to decide whether to rent to you. Landlords consider your lease as a loan.

If you don’t use credit to pay for things – and why would you if you can afford them in the first place??? – then your credit score doesn’t matter at all. Unless you are buying a house, you really should be paying for things in cash only.

How does this affect us? The black and grey lists raise difficult. There’s fear of loss of reputation, downgrading of debt ratings, credit worthiness and a loss of image. The FATF’s decision to.

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Fortunately, your credit score won’t drop simply because you marry someone with a bad credit history. Neither will your score improve on basis of your spouse’s good credit score. Each spouses’ credit score will continue to be calculated based on the information in his or her own credit report.

But there’s plenty you can do to maintain your U.S. credit scores while you are away. If you plan to pack up and move to another country, here’s one thing you can’t take with you: your credit.

Sure, the FICO credit score is the most commonly used across the board, but it’s not the only credit score in town. Your credit score can actually be different, depending on what scoring model is used and whether it’s Equifax, Experian or TransUnion reporting the information.