Understanding your credit, including credit score is one of the most import thing you need to know before you...

The biggest assumption is made by most individuals is that if there is something wrong with their credit their bank or lending institution will give them the proper advice and explain what to do to fix it. 

This is a false assumption.

Knowing your credit score before you apply for any kind of credit is essential to make sure you are getting the best interest possible.

Most everybody believes that when they apply for credit that their lending institution will give them the best interest rate. in retroespct , The is the samething could be said when you purchase a new car and you except the sale's person to give you the best price without negotiating. It just does not happen, but if you go prepared and know what is the sale price should be, you are more likely to get that price.  The same is to be said about applying for credit.  By knowing what your credit you will know what kind of bargaining chip you have.  The rule of thump is " the better the credit score the lower the interest and the easier is to get credit".

Knowing your credit is more important when it comes to getting a mortgage.  After all, even your local bank does not really know you personally and they use your credit to see if your are credit worthy.  The biggest job for a mortgage broker is to take your great credit score and negotiate your a better rate.  If you deal directly with a lender, you may not get the best rate because after all they are working for the lender and they are looking after their best interest not yours.  Mortgage broker work the other way.  They know that getting you the best mortgage available and making sure that you understand what you are signing is the best way for them to get return business and in our business return business is how we survive.

Lastly know the rules of credit, and more you know the more money you will save.

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