Credit scores help determine whether or not someone can get credit, the terms on which credit is offered, and how much it will cost to borrow. Credit scores influence nearly all aspects of life including housing, transportation, insurance, and employment. Credit also plays a role in setting up utilities, getting a cell phone, and negotiating interest rates or refinancing.
Through coaching offered through the Financial Opportunity Center, CMCA members learn financial management skills such as budgeting, reducing expenses, and lowering debt in order to increase their credit scores. By helping people improve their financial management skills and credit scores, CMCA supports families in becoming more resilient and in breaking the cycle of poverty.
Interested in supporting CMCA in this endeavor? Click here to find out how you can help.
1. Taylor, K. (2020, January 29). Credit score ranges and what they mean: How will the New Fico changes impact them? How to Pay For College: The Complete Guide from Nitro.