With the current financial situation in the U.S. having a good credit score is worth more than gold. The reason is that it can allow someone access to much needed money when circumstances turn bad.
Obviously, most people say when I need credit I can't get it, but when I don't need it is when I can get it. Kind like the "Old Catch 22."
The best advice I can give someone right now is to check your credit reports and buy your credit score at myfico.com. At this time you want to make sure everything is correct on your report.
You definitely don't want to apply to refinance your home & find out some old medical bill you thought was covered by your insurance is now in collections. This one little blemish on your report could mean being approved or declined.
Before any purchase review your credit reports. I have had clients declined due to misinformation on their credit reports. The main item had to be medical collections damaging their credit scores.
In my book How to Beat Banks & Credit Cards at the Money Game, I go over in more detail.
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