Know the Score About Your Credit Rating Learn about the importance of keeping
tabs on your credit rating.
Consumers have been hearing a lot about the importance of keeping
tabs on their credit ratings.
Not exact matches
You are purchasing merchandise
on the
credit card
tab and you are expected to repay it according to the terms and conditions of the contract you signed
Rates and fees can climb rapidly, especially if you are a poor payer.
Because
credit card interest
rates can fluctuate (but many usually hover between 10 % and 15 %), it's important to keep
tabs on what that
rate is so you avoid running into debt.
Each year, thousands of American consumers aiming to get out of debt or interested in improving their
credit rating or keeping
tabs on their
credit report seek the financial peace of mind offered by
credit monitoring services.
Because your
credit score can have a big impact
on the interest
rate you're offered
on loans and
credit cards — as well as whether you'll even qualify — it's important to keep
tabs on this figure regularly.
Your
credit rating may affect what you pay for auto insurance, so keep
tabs on it, recommends Gorman, vice president of the New York - based Insurance Information Institute.
To keep
tabs on assets that may be facing a higher than usual risk of default, Morningstar
Credit Ratings, a Nationally Recognized Statistical
Ratings Organization (NRSRO), follows a special formula that takes into account the assets» debt service coverage ratios, loan - to - value ratios, occupancy levels, maturity dates, tenant rollover expectations within a 12 - month period and the overall leasing conditions in the assets» metropolitan area.