The power of good credit: Understanding and improving your credit score
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We’ve all been told that our credit scores matter — but what does that really mean?
A high credit score can open doors. It can help you get a lower interest rate on a car loan, qualify for a mortgage or even make it easier to rent an apartment.
But a lower score? It can quietly cost you thousands of dollars in higher interest payments over time — money that could be going towards your savings, your home or your future.
MPR News guest host Catharine Richert talks with a financial coach about what determines your credit score, simple steps to improve it and the smart choices that can strengthen your financial health for years to come.
Guest:
Demitri McGee is a financial coach, certified housing counselor and youth director at Build Wealth Minnesota, a nonprofit opportunity center dedicated to helping families through financial education, personalized coaching and community-based programs.
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Use the audio player above to listen to the full conversation.
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