Financial Education

 

Credit for Life Experiences

How Major Life Events Affect Your Credit
We all face challenging times in our lives. But armed with the facts, you can learn how to keep them from creating havoc with your finances.

If you get married or divorced, have a child, buy a home, or lose your spouse, your financial picture will likely change. A life event that reduces your income or increases your expenses can make a lender less comfortable with offering you new credit. On the other hand, a life event that increases your income or reduces your expenses may make you a better credit risk.

By proactively managing your credit, you can be prepared for major events in your life and can minimize the impact on your credit. Keep reading for more detailed information about the effects of certain life events.