DAYTON, Ohio (WDTN) — Credit scores are like report cards of adult spending habits. Higher scores can help you borrow money at low rates – where lower scores can make you pay more for your loans. Eric Ebbert with River Valley Credit Union shared some tips on how to boost your credit score.

Eric said scores range from 300 to 850, and the average FICO score in America is 714.

He said being more than 30 days late on a payment will likely stay on your credit reports for up to 7 years and could drop your score by up to 100 points. He said this could end up costing you thousands over the life of a loan if you have to pay a higher rate.

For more tips and information about River Valley Credit Union, click here.

*This segment is sponsored by River Valley Credit Union.*