These days, credit scores are essential in everyone’s financial life, especially when it comes to asking for loans as creditors rely on your financial score to decide whether to loan you the money or not.
The good news is that, according to MagnifyMoney.com, you can benefit from the lowest loan rates which can reach up to 4.19%. Moreover, FICO, the most used credit score, states that the higher your score is, the more you avoid risk. In fact, higher scores can reach up to 850 with FICO.
However, you can easily lose your excellent credit score and face higher rate loans.
an excellent credit score: