Your Credit Score is Costing you Money
Do you know what your credit score is? Many of us don't have a clue. Now is the time for us to learn that important 3 digit number. All of us know that if a credit score is deemed too "low," we will have a more difficult time getting loans for homes, cars and credit card approval. We need to raise our consciousness regarding other effects of a bad credit score.
When you are a "credit risk," you will be paying higher interest rates, if you can get credit at all. For example, if you mortgage a home for an interest rate higher than the norm, over the course of that loan, you will be paying thousands of dollars more in interest.
Right now credit scores are impacting us in ways that we might find hard to believe and in ways that we might feel are ridiculous and unfair. This is why we need to inform ourselves about these other areas that are impacted by credit scores.
Automobile insurance companies will use a person's credit profile for writing policies. Homeowner insurance underwriters apparently have decided that when you have a low credit score, you will make more claims. Therefore, insurance rates get higher.
When people can't keep current on payments for health and life insurance, the costs for the insurance companies increase. So, because you have a low credit score, you are affecting these insurance rates.
Have you been denied employment? If this has occurred, it is possible that the employer checked your credit profile, found it poor and decided that you would not be a fit for his business. He might think you would steal or be dishonest in other ways. So, now it can happen that your poor credit is perhaps going to cost you employment.
Now, during our credit crisis, we are going to have even more problems getting credit. If you are a "credit risk" with a low credit score, you are in definite need of credit repair. You may have some surprises that you never expected. You need to fix things as soon as you can.
Now is not the time to ignore our whole financial situation. Keeping in mind what our poor credit may be costing us, now is the time to fix it.
When you are a "credit risk," you will be paying higher interest rates, if you can get credit at all. For example, if you mortgage a home for an interest rate higher than the norm, over the course of that loan, you will be paying thousands of dollars more in interest.
Right now credit scores are impacting us in ways that we might find hard to believe and in ways that we might feel are ridiculous and unfair. This is why we need to inform ourselves about these other areas that are impacted by credit scores.
Automobile insurance companies will use a person's credit profile for writing policies. Homeowner insurance underwriters apparently have decided that when you have a low credit score, you will make more claims. Therefore, insurance rates get higher.
When people can't keep current on payments for health and life insurance, the costs for the insurance companies increase. So, because you have a low credit score, you are affecting these insurance rates.
Have you been denied employment? If this has occurred, it is possible that the employer checked your credit profile, found it poor and decided that you would not be a fit for his business. He might think you would steal or be dishonest in other ways. So, now it can happen that your poor credit is perhaps going to cost you employment.
Now, during our credit crisis, we are going to have even more problems getting credit. If you are a "credit risk" with a low credit score, you are in definite need of credit repair. You may have some surprises that you never expected. You need to fix things as soon as you can.
Now is not the time to ignore our whole financial situation. Keeping in mind what our poor credit may be costing us, now is the time to fix it.
About the Author:
With never before seen challenges in the credit markets it?s more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
posted by Debt Consolidation Loan at
12:03 AM
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