We buy mostly everything on credit today. Credit is usually needed to buy a house or a car, and you’ll benefit by having a good credit score. A good credit score will help you get lower interest rates on mortgages, car loans and other financial products.

In fact, from landlords, to insurance companies, to utilities, everyone looks at your credit scores, as they are a reflection of your financial health. Today, even employers check your personal credit scores before offering you a job. If your credit score falls below 620, it would be wise to immediately undertake credit repair as it will be very difficult for you to get loans with reasonable terms.

Before discussing the factors affecting your credit scores, it’s important to understand who maintains your credit reports and how they do it.

Read more Know Your Credit Score