Three small numbers with a major impact on your life: your credit score.
When you have a good credit score, you can get better terms and lower interest rates on credit cards and loans that you may have.
But Jill Gonzalez, a Wallethub analyst, says credit scores are increasingly impacting other aspects of life.
"Some jobs are pulling credit scores as part of a background check... when you rent, a lot of people are pulling your credit score," Gonzalez explained.
So, how do you keep your score high?
Paying your bills on time is number one. If you're 30 days late or more, it can harm your credit. Also, try using less than 30% of your overall available credit limit.
However, with inflation and rising rent, maintaining a high credit score can be challenging.
Credit scores range from 300 to 850. If you fall below 650, Gonzalez suggests trying to rebuild your credit score.
One of the least risky and lower-cost options are secured cards. When you get a secured card, you essentially put up a refundable security deposit that acts as your credit limit. You can check WalletHub's card comparisons.
What about credit-boosting apps or websites?
Gonzalez says to do your research beforehand and be prepared to pay a fee upfront, but legitimate organizations can help in the long run. In some cases, you could pay to have your utility and rental payments count toward your credit when typically, they don't factor into the score.
Depending on your situation, building or rebuilding credit can take six to 18 months. Gonzalez warns, if an option promises a fast fix, it's likely too good to be true.
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