Credit scores influence nearly all things financial in your life. Banks, credit card companies and others use credit scores in deciding whether to give you a loan, how much money you can borrow and how much interest to charge you. Here’s some advice for improving your credit score:

Having a bad credit score will cost you a lot more than a higher interest rate for a few loans. It extends into many parts of your financial life. So many people fail to understand how important their credit is until they try to buy a home or take out a loan. People with bad credit usually know that they will have to pay higher interest rates. But they often don’t realize how deeply they will really be affected.

There is a common misconception that when two people marry their credit histories become one the minute the two tie the knot. This is only partially true. When two people marry, each retains his or her individual credit history up to that point.

Your credit score or FICO is very important as you are defined by this ever changing number attached to your name. It can affect your ability to get a loan, your chance of getting a job and even increase the interest rate you pay.

Divorce decrees do not relieve either party of joint financial responsibility. The purpose of divorce is to split off emotionally, and financially, from your ex-spouse. If you aren’t careful, your ex-spouse’s handling of your once-joint credit accounts can haunt your “FICO Score” and “Credit Rating” for years. If you had joint debts which existed before your divorce, and these accounts are not both paid off and closed, you are just asking for trouble.