$50,000 down the drain. It still blows my mind! That's how much a poor credit score can cost someone getting a $150,000 mortgage.
But not YOU. You can take action now to understand, protect, and improve your credit.
First, track down your credit report. Experian offers a 7-day trial membership to Experian CreditWorks for just $1. The membership gives you access not just to your credit report, but also your FICO® Score 8 (which 90% of lenders use), and their credit monitoring tool.
Next, if you don't already have credit monitoring set up, STOP WHAT YOU'RE DOING and set it up. Credit monitoring won't hurt your credit score and remember, when you know better, you can do better.
A free credit monitoring tool like Credit Karma monitors your VantageScore®, which isn't likely what your bank will use, but can help keep you on track toward your credit score goals. Experian monitors FICO®, which most lenders use, so if you're planning on buying a home very soon, this might be the better option.
After watching today's video, you'll understand:
1. Why you need your credit score before applying for a mortgage
2. The difference between your credit score and your credit report
3. How your credit score is calculated
4. Steps you can take to improve your credit score
5. Where to get your credit report
6. Where you can set up credit monitoring
Hosted By
David Bach
10X New York Times Best-Selling Author
