Covid-19 and your credit score: Worry about it later

Read the original article by Michelle Singletary on The Washington Post.

You’ve lost your job, or your work hours have been cut. Or maybe you’ve been furloughed and you aren’t sure if you’ll be called back to work.

Another 1.5 million workers filed for first-time unemployment insurance last week. If you are among the newly unemployed, the loss in income may have resulted in a missed mortgage or rent payment. You may not even be able to make your minimum credit card payment. You’re stressed. So, what are the financial issues you should be worried about?

One thing that you shouldn’t sweat is your credit score. Now is not the time.

One question I’ve been getting repeatedly when I do financial segments on television and radio programs is this: How will the novel coronavirus pandemic affect people’s credit scores?

Yes, we in the personal finance space are always talking about getting and keeping a good credit score. An excellent credit score is like a super-high SAT score. You get mad respect...