Check Credit Rating
Improve your credit rating score
Lenders evaluate credit ratings based on how it compares to other consumers' scores. Rates and terms are then assigned to the different score scale. Knowing your score is cruciall when it is time to apply for credit or a loan. You will have the information you need to negotiate better interest rates, which can save you money over the life of a loan.
For this reason, it is important to check with credit rating agencies (Experian, Transunion, Equifax) and take steps to improve it before you make any big purchase that might use credit. In addition, checking your rating once might not be enough. This is because your score is constantly changing and fluctuated as often as monthly.
As the information changes in your credit file, so will any new score based on your credit information. So your score from a month ago is probably not the same score a lender would get from the credit reporting agency today. By checking your credit rating score, you'll be in a better position to decide when it's the best time to apply for a loan or credit.