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Credit Smarts

Credit report prints.

At Rivermark, we understand the importance of credit smarts. Whether you're a credit newbie or an experienced borrower, we're here to offer you the guidance and resources you need to manage your credit effectively.

Our comprehensive resources cover the basics of credit, including how to access and interpret your credit report, as well as strategies to improve your credit score. With our support, you can gain the knowledge and tools necessary to make smart financial decisions and achieve your goals.

Credit Score Factors

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It's no secret that maintaining a good credit score is essential to strong financial health. It is a must if you ever wish to take out a substantial loan or need to apply for rental properties. Most people know the basics of what may hurt or help your credit score. However, you may not know about a few surprising things that can hurt your score. Here are six factors that may negatively impact your credit score.

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Understand Credit Scores

Credit Score graphic

Your credit score is a vital part of your financial history. Lenders and other organizations use it to understand how much of a risk you are regarding financial matters and repaying your debts. Understanding how your credit score is made up and the typical ranges and ratings can help you gain insight into your creditworthiness and allow you to make improvements.

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Improving Your Credit Score

Maintaining a good credit score may mean the difference between being able to borrow money for important purchases and not being able to borrow money at all. For lenders, your credit score is an indicator of how responsible you are and how likely you are to pay back a loan. A higher credit score will likely get you a better rate on your loan, while a low score could come with a higher rate. That difference could add up to tens of thousands of dollars over the course of a lifetime.

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Credit Card Smarts

Believe it or not, your mailbox will soon be bursting with credit card offers addressed to you. Having a credit card is a great way to establish credit and to build a good credit history. Unfortunately, having a credit card and using it improperly can ruin your credit. It’s all too easy to be trapped in a spiral of escalating debt, high interest and excessive fees.

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Building Your Best Credit Score

The information used to calculate your credit score comes entirely from the information in your credit report. Credit scores tell lenders and other businesses how likely it is that you will fail to make payments in the next two to three years. Scores range from 380-850, with 850 being the best.

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Understanding Credit

Credit is everywhere! From auto loans to mortgages to credit cards, there’s a whole lot of credit everywhere. The older you get, the more people will try to sell it to you. The bottom line is that all that credit costs you money—and some loans will cost a lot more than others. It’s all too easy to get trapped in a very expensive loan.

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