Use Your Tax Refund to Help Build Your Credit Score

Use Your Tax Refund to Help Build Your Credit Score
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Mike Valles
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Tax Day has passed, and you already know if you will get a tax refund. Most people have a good idea of what they want to do with it shortly after learning how much will be coming to them. It usually involves taking a vacation or buying something you have wanted for a long time. A few others see it as an opportunity to reduce their overall debt, which is a good idea.

One thing that most people rarely think of is to use your tax rebate to boost your credit. It would have a long-term benefit—if you can control your spending.

Benefits of a Higher Credit Score

There is quite a difference between the benefits of having a low credit score and a good one. A good credit score, Experian says, is anything above 670 (FICO). Your credit score is very good if it is higher than 740 and exceptional if it is 800 or higher. The average credit score for Americans is 714.
Mike Valles
Mike Valles
Author
Mike Valles has been a freelance writer for many years and focuses on personal finance articles. He writes articles and blog posts for companies and lenders of all sizes and seeks to provide quality information that is up-to-date and easy to understand.
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