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💳️ The Credit Score Game: What Actually Matters? |
The term “credit score” elicits some extreme reactions. |
Some people have gamified the system, checking Credit Karma multiple times per week and obsessing over tiny changes. Others roll their eyes, have no idea what their score is and have zero interest in thinking about it. |
Should you care about your credit score if you’re not trying to borrow money for a house or car? |
It will affect your homeowners and auto insurance rates, Clark says. And it matters to some employers – although they often care about your credit standing, not necessarily your score. |
If you’re one of those people who are ultra-fascinated by your credit score – or even ultra-stressed – Clark says you can probably narrow your focus two factors: on-time payments and credit utilization. |
Those make up about two-thirds of your score, he says. Make sure you never miss a monthly payment. And keep the amount of your total credit you’re using below 30% (or 10% if you want true credit score greatness). |
In case you haven’t read our story, Clark says achieving a 760 score will get you almost all the benefits you need. |
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💵 Today’s Top Stories |
| | Even if you’re not using a credit card, don’t stash it in a drawer and forget it or cancel the card. Do this instead so you keep your credit score as high as possible. Read more. |
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| | Clark’s long-held prediction of a slow improvement in the vehicle market in terms of pricing has come true. But a big auto worker strike is threatening to temporarily bump prices. Read more. |
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| | Get up to 4% interest on your first $3,000 in savings when you deposit your money with – get this – T-Mobile. Here’s what Clark has to say about this savings account alternative. Read more. |
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| | Want quality headphones that also save you money? Here’s how, where and when to score the best deal according to our research. Read more. |
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📊 Stat of the Day |
🏰 $0.28: LEGO’s profit per dollar in revenue. This 28% profit margin puts to shame other toy companies like Mattel ($0.12) and Hasbro ($0.07) and even outdoes Ferrari ($0.24) and LVMH, which owns Louis Vuitton among other luxury brands ($0.27). |
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💰️ Deal Alert: Today’s Top Deals |
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🎙️ Podcast |
 | Full Show: Great News for Credit Reports and HOA Pros Cons |
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Great news in the credit industry: You can monitor your credit report every week for free! Use the free tools that are available to you (annualcreditreport.com) and avoid the scummy paid products that the credit bureaus will try to sell you. Also, homeowners associations can be really great, but there can also be problems. Clark shares everything you need to know so you can make an informed decision. |
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☎️ Need Money Help? |
The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information. |
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