What you don’t know about credit scores could hurt you

May 17, 2012

Your credit score, which is based on your credit history, can have an enormous effect – positive or negative – on your life. A good score could save you thousands of dollars a year in interest. A bad score could cost you a loan. That’s why it’s so important for you to understand how credit scoring works.

A new surveyby the Consumer Federation of America (CFA) and VantageScore Solutions shows overall knowledge about credit scores has improved significantly in the past year. But the results also make it clear there’s still a long way to go.

Read the full story here.