Finimpact

Frequently Asked Questions(FAQ)

How do you find out your credit score?

Knowing your credit score and how to make it stronger is half the battle in understanding how to use good credit to make money. To do this, buy your credit report from one of the three major credit bureaus (ExperianEquifax, or TransUnion). These bureaus have programs that allow you to access a free credit report annually. You can also access a free credit scoring service available through your bank, credit card, or loan company.

How do you build your credit so you can use it to make money?

The key to building a good credit score in the 700 to 749 range is by doing the following:

  • Stay on time with your payments
  • Avoid a balance of over 30% of your credit limit
  • Keep accounts open vs. closing them when you pay them off 
  • Don’t apply for more credit than you need
  • Have a mix of credit (credit card, mortgage, car loan)
How do you find a credit card with rewards that work for you?

There are so many credit card offers out there. If you have good credit, the credit card world might be your oyster because credit card rewards can be a great tool to help you save money, if not make it. Here are some pointers on how to find the best credit cards with rewards.

  • Understand your spending habits so that you know which category will earn you the best rewards
  • Consider how quickly you can start earning rewards (warning: don’t get so caught up in the rewards that you can earn that you overspend - stick to the 30% utilization rule)
  • Determine the types of points that will be the most useful - if you are planning a flyaway vacation next year, a travel point rewards credit card might be just the ticket

About the Author

Ann Bloomquist

Written by: Ann Schreiber

Seasoned Copywriter & Content Marketer

Ann have been a marketer and a content writer for over 20 years. She have worked for financial institutions such as FICO, Experian, and BlueChip Financial as a director of content and brand marketing.

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