Credit Reports

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M An increasingly important gage of your financial foundation is your credit report.  That report assigns you a number based on whether you pay bills on time, carry debt, past bankruptcies.  Does that matter?

V It does, the lower that score, the higher a mortgage lender will charge you in interest.  Same with credit cards.  In fact, a low score may mean that you cannot open a bank account.  Then you are left with the currency exchange option for bill paying and that’s costly.

M you can get a free yearly credit report at www.annualcreditreport.com.  Check it for accuracy.  Remember, resources are all God’s on loan to you. Be wise.