Credit scores can have a profound impact on our finances. For example, a good credit score could mean better terms on your loan. It could also be the difference between being approved or denied for a loan in the first place.
When we talk about credit scores, there are typically two significant players, FICO and VantageScore. Each uses similar factors to determine your credit score within their system. Let’s go through all the in’s and out’s of credit and how it can affect your finances.