Oct5
When people talk about credit scores, the tone of the conversation normally takes on a negative aspect. It seems that people tend to be focused on the “bad” side of the system. They cannot be blamed, however, as you can’t even begin to count all the horror stories about credit scores. Then again, it is always good to look at things in a positive light. So in this post let’s take a peek into the other side and talk about what your credit score can do for you.
Good credit scores – not excellent, mind you – can save you a lot of money. As we all know, credit scores always come up when you are taking out a loan. With a credit score of say, 700, you will have about 5% to 8% savings as compared to those with fair credit scores of 600 to 650. We are talking about FICO scores, by the way. These savings come in the form of interest rates applied and the monthly payments as well.
Another area where your credit score will make a huge difference is insurance. Everyone knows how much of a headache you can get from your insurance premiums. The thing is, with a good credit score, you can make a lot of savings regarding your insurance premiums.
These may seem obvious but it is good to be reminded every now and then. With these benefits in mind, you may be motivated a little bit more to improve or at least maintain your credit score.
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Oct3
In the last post I talked about unsecured bad credit loans. There is another option for those of you who are saddled with a bad credit score. You can actually use secured personal loans to climb your way back up the credit score ladder.
It is true, it doesn’t seem to be such a […]
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Filed In: Advice Personal Loans Credit Scoring Debt Management
Oct1
Your first thoughts may be “Is this possible?” Anyone who has taken even a brief look into the market would know that yes, it is indeed possible to take out a loan even with a bad credit score. Of course, that doesn’t mean that you have to be content with a bad credit […]
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Filed In: Credit Scoring Loans
Sep29
All right, here is the last post (for now) that will tackle practices that kill credit scores. In the last post, we talked about the importance of continuity when it comes to your place of residence and your job. Here are several more things that are factored in when coming up with an […]
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Filed In: Personal Loans Banks Credit Scoring
Sep27
I just can’t seem to get enough of these little things that pull one’s credit score down. Then again, I believe the old saying that goes forewarned is forearmed. There have been too many stories in which a person goes and applies for a loan only to be rejected without him understanding the […]
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Filed In: Tips Credit Scoring Credit Reports Loans
