Reasons Your Credit Score is Important

by

 In today’s modern era a credit score affects many things including your ability to lease a car, rent a house make large purchases and even become a customer of certain companies. Utility companies such as electric, phone, satellite and even cable will often times check a customer’s credit rating. Low credit scores may mean higher deposits before a company will provide service. Many employers check out potential hires credit score to determine whether or not they are a responsible individual. A credit score is not something to be taken lightly.

What is a credit score? How do I find my credit score? What things effect my credit score? If my credit score is low, how do I improve it? These are all important questions and having the answers could mean the difference in renting your next home, leasing your next car or getting a loan for large purchase or in emergency situations. In 2018, your credit score IS your financial identity. It’s how you’re viewed by companies, employers and banks. Let’s make sure you’re wearing your best outfit!

 

What Is A Credit Score?

A credit score is a three digit number that tells lending companies how well you’ve paid your bills. Lending companies use this to determine your credit worthiness. Your credit score can affect the interest rate you may get on a loan as well as whether or not you are approved.

The most common credit score rating is FICO. FICO scores range from 300 to 850. Those with a score of 740 or higher are typically entitled to the best interest rates. Companies will make certain assumptions based on credit scores. When reviewing a credit score a company can decide whether or not they are going to finance your loan, give you a lower interest rate, or even give you a good deal on your auto or home insurance.

Receive A Free Credit Score Now!

 

Assumptions are generally made on the following scores:

Excellent Credit: 781 – 850

Good Credit: 661 – 780

Fair Credit: 601 – 660

Poor Credit: 501 – 600

Bad Credit: below 500

Financial Aid | Credit Repair | Credit Score

There are certain factors that go into determining your credit score. Things like how often you paid your bills and whether or not you ever been late on a payment. What is the balance on your revolving credit cards? Lenders typically look at whether or not you have a high balance on your credit cards versus how much you have available. This means maxed out credit cards, are NOT a good thing. Utility companies also report to the credit bureaus so keep this in mind.

 

How Important Is A Good Credit Score?

Yes! A good credit score is considered 720 or higher although some lenders may have different standards. A good credit score will provide you with an excellent interest rate. It can ensure your ability to get a loan. A good credit score can even have an effect on what you pay for car and home insurance.

Borrowers with higher credit scores are normally given better mortgage and refinancing rates. Why is this? Because lenders believe those with high credit scores are an ideal customer. Having high credit score show the bank that you are a responsible borrower. It also gives you negotiating power when it comes to things like closing costs and other fees. Having a high credit score means banks are more likely to compete for your business because it is in their best interest to offer you the best possible deal.

Another reason your credit score is important is because it is a HUGE part of your financial identity. Credit score affects many things including your ability to lease a car, rent a house, make large purchases and even become a customer of certain companies. A credit score is not something to be taken lightly.

You Can Improve Your Credit Score

Maybe your credit score is not so great. That is okay! You can improve a bad credit score.

Obtain Your Free Credit Score Now!

Make the decision now to begin paying your bills on time each and every month. There are several budgeting tools online to begin telling your money where it should go. Budgets are easy to make and can give you an idea of where your money goes each and every month. Knowing where your money goes is the first stop in paying your bills on time. And paying your bills is the number one tool in repairing a bad credit score.

 

 

Monitor your credit report

The federal government allows you to obtain a free copy of your credit report once a year from each of the major credit bureaus. The three major credit companies are Experian, Transunion and Equifax. You can do this by visiting Annual Credit Report every three months. Pick one company each quarter, and you will be able to keep a good eye on your credit report Monitoring your credit report will let you know if there any discrepancies that may not be accurate. It also tells you whether or not there are negative items on your credit report that affect your credit score.

Many companies allow you to view your Free Credit Score and Report when you subscribe for their suite of credit protection products. Through this method or by signing up directly with Experian, TransUnion or Equifax, you can shortcut the waiting process and get visibility to your FICO score and report immediately. Also, more and more, credit card companies and banks are allowing their clients to view their credit score through their monthly statement.

 

What About Credit Repair?

If monitoring your report, and getting your credit back on track seems overwhelming, consider using a company like Credit Repair Inc. They offer easy and helpful tools that can help fix bad credit. Members of Credit Repair Inc. typically added 40 points to their credit report in as little as four months. How? Their customized tools allow you to repair your past. Their 24/7 credit monitoring system allows you to monitor your present. With a company like Credit Repair Inc. you are able to build your future. This allows you have order in your financial life and maintain a healthy score, while accomplishing your credit goals.

So are you ready to take the next step in obtaining a fantastic credit score? The future is in your hands there’s no time like the present to raise your credit score and gets on the right path financially. You now know why a good credit score is important. The only thing standing in your way is action. Make a plan now to secure your financial future and one day have the ability to own your dream home, and be in charge of your financial identity. You can make that happen!

Manage Your Credit Score for Free!

 

Section 8 Vouchers Less Likely to be Accepted
 About 300 less, that is the number in Nashville, TN. Since 2010 there has been 300 fewer Section 8 vouchers accepted throughout the Greater Nashville Area. Families are being kicked out of their apartments and housing because the owners have just decided...
How to Find Bargains at Flea Markets
I love to spend hours looking at flea markets for different items. Different vendors set up their products in a central location so that consumers can spend their time walking around and see the new and used items available for sale. You never know what you will come...
5 Ways to Keep Your House During A Market Crash
Anyone paying attention to the housing market in the Los Angeles area knows that home prices have been at record highs. National Mortgage News suggests that this could be a housing bubble about to burst, and a decline in home prices and an increase in mortgage...
Helping Homelessness with Government Grants
 Poverty and homelessness in the United States and around the world is increasing on a daily basis. Here in the United States, rising housing costs and lower livable wages have been among the 2 biggest contributing factors. Lack of mental health facilities...
Is Rent to Own Housing An Option?
Rent to own housing is a popular term that should be carefully considered. It can be an agreement between owner and seller to rent or lease a property until it is paid in full. The plan can work several different ways, some have zero deposits and no...
SNAP (Supplemental Nutrition Assistance Program)
The first nutrition assistance program was started in 1939. These types of programs were developed to help people during strenuous times and financial hardships. The program we know today (SNAP) was first introduced in 1961 as the Food Stamp Act that was...
Searching for Online and Freelance Employment
Searching for Online & Freelance Employment Many career fields and skills do not fall under traditional frameworks for employment. Writers, photographers, marketers, teachers and artists may be able to find work as online freelancers to continue improving their...
How The New Budget will Impact SNAP
How The New Budget will Impact SNAP  The Supplemental Nutrition Assistance Program (SNAP) assists lower-income families to purchase food in order to prevent hunger. The program also provides economic benefits to communities. The proposed budget for 2018...
4 Challenging Discussions (And How To Have Them)
It's not always easy to practice open and honest communication, especially with your family. Unfortunately, that lack of communication can have serious consequences. If you're having a hard time finding the courage to approach your family about an issue...
Finding Employment with Job Searches
Finding Employment with Job Searches Sometimes, life hits Americans hard. With ups and downs in the economy, it may be difficult to maintain consistent employment over a long period of time. Fortunately, there are options to help find a new job or career. In the...
Easy Formula for Grant Applications
When you look forward to apply for a government grant, you will need to do a lot of research and make elaborate preparations. To give a kick start to your grant seeking process, fist you must understand the different types of grants available. You will...
Ways to Face Fears | Succeed
All of us have a hard time with failure, and it can often lead us to feeling insecure about ourselves. It can even begin to compound our fears and leave us feeling nervous and anxious in unfamiliar situations. We want to be able to predict and control everything that...
5 Strategies to Save Money on a Shoestring Budget
 If you are one of the many people who live on a tight budget, you may feel the stress of your situation on a daily basis. Even a seemingly small issue that arises and has reasonable expenses can throw your budget off track. Reducing your costs is a great...
Natural Antibiotics and Antivirals
The issues of antibiotics and antibiotic-resistant bacteria have gotten a lot of attention lately. The concern is that bacteria, having been exposed to antibiotics for so long, have developed a resistance to the antibiotics, creating "superbugs." The grim reality is...
Morning Habits for Success
Are you a morning person? Many people enjoy getting up at the sunrise and having a cup of coffee while they browse the web and others prefer to sleep in as long as possible but the most successful people in the world embrace the mornings and in fact there...
HARP Eligibility and Assistance
 If your mortgage is making your financial life more difficult than you expected, you can get assistance through a program called HARP (Home Affordable Refinance Program). HARP eligibility is easy to determine as there are several factors that can affect...
Self Help Works Too!
Self-Help Works Too! Government assistance serves as a great safety net for a lot of people. Unemployment, SNAP, Social Security Disability, and other benefits operate as a great way to prevent total financial collapse following negative life events. However, each of...
Is Public Housing An Option for You?
The US Department of Housing and Urban Development (HUD) utilizes several programs to ensure housing for lower-income families. One of these programs is Public Housing. This program was designed to provide decent and safe rental homes for lower-income...
Walmart Owes Money
Wal-Mart is a nationally recognized big box store offering low prices for customers who have everyday needs. The store employs more than 1.2 million people, and many of them are currently in a situation in which they could receive a big payout from the company for...
Unpaid Wages Recovery Guide
If you worked for it, then you should get all upaid wages. Everyday can be a struggle and still come up on the short end of the stick. That is why you may be frustrated when you are not paid the money you are owed. Fortunately, there are many steps that you can take...

Subscribe

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Name and Email for Best Results

Due to the overwhelming response, enter your email for best results. Look for your free ebooks from New Flex Career!

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Family Picnic

Enter Your Email for Best Results

Due to the overwhelming response, please enter your name and email to ensure the proper search results.

You Are On Your Way!

Pin It on Pinterest

Share This