How Important Are FICO And BEACON Scores
In the event you may be unaware of these scores you really need to learn about them, simply because they impact almost everything you do. They of course are credit scores. They represent the method of measurement used by the credit agencies to determine basic credit worthiness and many other things that our creditors want to know about us like repayment behavior history and income to debt ratios.
Many folks have charge offs, payment defaults, poor payment history that perhaps occurred when a job was lost or a large unexpected however necessary expense reared its ugly head. We go on about our lives and forget about credit records that can have a very expensive effect on our lives, even complete credit denial. We don't seem to realize that our credit scores will create extremely positive or extremely negative results when we want to buy a house, or a car, or an appliance to replace one that just gave up from age.
What about the cost of credit cards and lines of credit. Our repayment of debt arrangements and everything else that affects our credit scores can make a very large difference in the cost and terms of credit agreements.
We have definitely become a nation of credit in our daily lives. There are a lot of people that don't even carry cash any more and the use of checks is practically a memory only. Typically it's debit or credit.
So you can quickly see how important not only knowing what FICO and BEACON scores are but also knowing how to control them for your best advantage in determining what you can buy and how much it will cost you in total. The use of credit takes a bad rap because it is abused by lots of the folks. Like a lot of other things that are good and convenient, a certain amount of self control is needed. We never want to eat to much or drink to much etc. the key phrase of course being to much.
In my opinion everyone should know what their credit score is and how to make it higher. Also everyone should know what affects it. Our scores should be reviewed on a regular basis. IT IS REALLY THAT IMPORTANT !
So how do you get started with getting all of this done? Well it's all most tax time and most people don't do their own tax preparation because it can get pretty complicated with tax law changing all of time and finding the time in this busy world to do it. Not to mention concern about the dreaded IRS audit!
What to do? What to do? Find someone you know and trust that has the experience and knowledge to get this extremely important chore done for you the best legal and quickest way possible.
About the Author
William Shaut is a 67 year old entrepreneur. He owns an internet sales and marketing business in the Dallas Texas area. He spent well over 30 years with a global very large finance and insurance corporation,was earley retired and the young age of 62 and now works from home on his marketing business. He can be found at http://www.profitablesolutions-1mill.com
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