Consumers need to be mindful of credit scores, impact on debt

Consumers need to be mindful of credit scores, impact on debt
Not paying attention to your credit score can cost you a lot of money. Many people don't know that their score - a three-digit number derived from an analysis of how they handle debt - is the key determinant of what interest rate they'll pay on credit cards, auto loans and home mortgages. The lower a person's score is, the higher the interest rate and, therefore, the higher the cost for the loan.

Consumers need to be mindful of credit scores, impact on debt