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!

 

How To Get The Best Insurance Deals
In most cases finding the best insurance deals is difficult. Since having insurance is a requirement rather than being optional it is a good idea to shop around for the best insurance deals. It’s difficult to shell out the cash for insurance premiums and...
Car Loans Approved Today!
Drivers will be excited to hear that the cost of a vehicle has started a downward plunge making it even easier to get the car loans you have always wanted. According to predictions by GasBuddy, the average price for a gallon of gasoline is set to fall...
The Facts You Need to Know About Payday Cash Advances
If you need money, it can feel as if there is no one to help you. It may feel like you're up a creek without a paddle. Luckily, you can get payday cash advances to help you out. Research all companies that you are considering. Find a lender that fits you...
Teach Safety First
There is no denying the fact that the dangers out there are very real and your child is susceptible to them all. Luckily you can teach safety to help protect your little ones and keep them safe at any age as long as you are willing to take the necessary...
The FHA and Home Loans
 The Federal Housing Administration (FHA) insures mortgages on loans provided through FHA-approved lenders. Since its creation in 1934, the FHA has insured tens of millions of homes for families in the United States. These mortgage insurances protect...
Low Income Families and Educational Help
Low Income Families and Educational Help It is a common perception that only the most gifted students are eligible for grants and scholarships to get them through the final phases of their education, and this then gives rise to the popular thought that those residing...
The World of Federal Grants
Welcome To The Wonderful World Of Federal Grants Federal Grants - If you are planning to go to college or university but know that you would never be able to afford it on your own, or with the help of your family for that matter, one of the first places...
Should You Consolidate Student Loans?
Should You Consolidate Student Loans? In order to make it through the years of school, students take on a lot of debt from various loans. Sometimes, these loans come from private lenders with higher interest rates and fewer protection. Most loans, however, are funded...
The Greatness of Good Friday
 What a supreme paradox. We now call the day Jesus was crucified, Good.Many believe this name simply evolved—as language does. They point to the earlier designation, "God's Friday," as its root. (This seems a reasonable conjecture, given that "goodbye"...
“Believe in The Power of 3”
The number 3 is the first number to which the meaning “All” was given. It is the number of the whole as it contains the beginning, a middle, and an end. When you raise the number 3 to a second power, it simply magnifies everything you already have and...
How to Save Money on Your Kids Dental Bills
Your family budget might not extend as far as it used to. Still, you want your children to have healthy teeth and inexpensive kids dental bills. Learn how to save money on your kids dental.  Like Clean Teeth? Try the Dollar Brush!   Courtesy of Fox News Health...
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...
A VA Home Loan Can Help You Get Affordable Housing
 Ever since the housing market collapse, lenders have tightened the requirements to qualify for loans. If you don't have the required credit score or enough for a 20 percent down payment, it will be difficult to secure qualification for a conventional...
Social Security Disability Benefit Application Help
 There are several advantages to applying for Social Security Benefits online. There is no need for an appointment and it will definitely save you time. Visitng your local Social Security Office can be very time consuming and frustrating. Read the...
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...
Social Security Disability Assistance
 Social Security Disability Insurance pays benefits to you and certain members of your family if worked long enough and paid Social Security taxes. Supplemental Security Income pays benefits based on financial need. If you need help and personal guidance...
Receiving $4000 in Home Rebates
 Are there any home improvements that you have been contemplating lately? Are you struggling to make ends meet already? Learn more about three Programs a that could help you and millions of homeowners qualify for a $4,000 rebate. These Are Very Tough...
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...
How To Get Involved with Affiliate Marketing or Direct Sales
How To Get Involved with Affiliate Marketing or Direct Sales Life can busy and complicated. With increased costs in childcare, one parent must often stay at home to watch the kids while the other parent works. Or, as someone begins their adulthood, they may need...
You Can Save Money on Your Monthly Bills By Reading These Tips
When you add up the total cost of your monthly utility bills, you may be astounded by how expensive utilities can be. This may be particularly true during peak usage months in the height of summer and in the dead of winter. You and your family...

The Premier Forex League

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 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