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4 Life Milestones That Impact Credit Status

Proper financial management is crucial in obtaining significant dreams in life.

Purchasing an automobile or applying for a mortgage to secure a home are moves that require adequate savings and a desirable credit score.

Still, it’s essential to learn how struggling to reach these goals impacts your credit score once achieved.

Rod Griffin is an expert at Experian, 1 of the 3 primary credit bureaus. According to him, US citizens must understand how reaching the following life milestones can affect their credit.

1. Graduating off campus

Completing campus is a big deal, especially if you took out student loans to fund your education.

“Paying off your student debt is an excellent way to start building credit,” says Griffin. “On top of lengthening the average lifetime of your credit accounts, student loans are considered installment loans and can help increase your credit assortment.”

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