Raise Your Credit Score, Achieve Your Goals

In today’s uncertain economy, why is your credit score so important? It is amazing how 3 little scores can either help or hinder your ability to purchase assets, consumer goods, and even obtain car insurance. A great credit score will help you get into a home, auto, student or any other loan at the best possible interest rate, resulting in less money spent overall.  A low credit score could completely keep you from achieving your goals.

With credit criteria changing on a daily basis (no joke), it is extremely important that you strive to have a 720 credit score or higher. Certain loans may still be available to you if you fall below the magic 720 number; however, the loan type may not be as advantageous. Often, these types of loans will come with higher interest rates, costing you much more money in the long run. Gone are the days of having a low 500 score and qualifying for a new home loan with no money down.

Poor credit scores can even begin to affect your short term borrowing. Late payments to your auto, home or student loans could drop your score as much as 100 points. Paying your credit card late could drop your score by 75 points.

Here’s my best advice:  pay your bills on time to avoid drastic changes to your credit availability and, if you feel you may be late, call the creditor to let them know. They are usually understanding of this and will try to work with you without damaging your credit. The worst thing you can do is bury you head and hope nothing happens. It’s almost always best to be pro-active.  Click here for some tips on how to raise your credit score:  http://apluscredit.info/tipsForBetterCredit.html

Sarah Kahley-Rufo

A+ Credit Consulting LLC.

303-778-7782

skrufo@apluscredit.info


 
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