All Kelly Community locations will be closed Wednesday, June 19th, in observance of Juneteenth. Our digital services are always open.
“Struggle is a never-ending process. Freedom is never really won. You earn it and win it in every generation.” – Coretta Scott King

Why is it necessary to maintain a good Credit Score?

A credit score is a three-digit number on a scale of 300 (poor) to 850 (excellent), representing your history of financial responsibility. A low credit score indicates that you may not pay your bills on time. This speaks volumes to financial institutions, for investing in a person with a low credit score can be a liability to the company.

A low credit score is usually around or under 580. A good credit score, on the other hand, speaks highly for itself. Scores above 670 indicate that you are accountable and can be trusted with financial responsibilities!

So, how do you build your credit score from the get-go of adulthood? Let’s talk about it!

When you turn 18, you become eligible to apply for a credit card! Before applying, it is wise to have a job that provides you with a steady financial income. A solid foundation of savings and continuous money flowing into your account will support you in paying your bills on time. Remember that choosing a reliable and highly praised financial institution to trust with your finances is vital. This decision alone can be a game changer in receiving the necessary support to build your desired credit score.

Once you have successfully obtained a credit card in your name, be extra mindful of how you choose to spend your money. True financial responsibility is learned through experience, so be conscious of your decisions and never hesitate to ask questions! In this day and age, we are fortunate to have convenient outlets for financial expertise. Contacting Kelly Community is a great way to learn more about how to build your credit score!

It is important to mention that checking your own credit score will not affect your rating, but having an official lender check it too often surely will. Be sure to have your credit checked through another company only if you are committed to making the purchase and have confidence in keeping up with payments. Debt is not a subject to take lightly; therefore, it is imperative to take preventative measures to keep your financial stability on good terms!

Now, you may be wondering, “what exactly do I need credit for?” Most all significant investments require a respectable credit score to prove that you have the means to keep up with payments. These investments include but are definitely not limited to auto loans, business loans, mortgage loans, and credit cards.

Lastly, another perk of having a high credit score is receiving an upper hand that you may not have had access to without credit! For example, to a financial institution, an excellent credit score justifies giving you better interest rates. This alone can help you save significant amounts of money annually!

To speak with a Kelly Community Representative about applying for a credit card, how to build your credit, or anything surrounding this subject matter, come visit us! We would love to help you make decisions that will help in saving and capitalizing on your hard-earned money!

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