Each time you apply for a Loan, new line of credit, an apartment, or job you can just about guarantee your credit score and report will get a look. The first step in knowing whether you’ll be approved for a loan, housing, or a job is to know what your FICO® score is, because this is the credit scoring model many creditors and lenders rely upon. In the United States, FICO® is considered the preeminent provider of Credit Scores. Its numerical system ranges from a low of 300 to a maximum score of 850. But Fair Isaac & Co. (the corporation behind the FICO® score) is not the only provider of credit scores, allthough FICO® is certainly the most popular and widely used.

Small actions can produce big outcomes when it comes to raising your credit score, and a little common sense goes a long way. 

If you find yourself in a situation of short-term financial hardship, running up that Credit Card is usually a quick and easy “solution”. However, being in possession of maxed-out and high-balance Credit Cards will weaken your ability to survive any looming financial storms.

There has never been a more suitable time to get your financial house in order. While most of us cannot control whether we will have a job in a year, and we can’t reduce the fluctuations in the Stock Market, lowering our consumer debt is one thing we can certainly work towards. Being financially stable tomorrow depends on our willingness to make financially sound decisions today. This is particularly true in these economic times, and for most of us, getting out of debt is now more important than ever before.