Millions and millions of Americans go through their daily lives completely in the dark when it comes to their credit score. They may have a great credit score or a horrible credit score…the fact remains that they don’t even have a clue if it is helping or hurting them.
The crazy truth is that over one-third of us hold credit scores under 600, according to a 2016 credit bureau statistic. The crutch about having a score below 600 is that it puts you into the “Bad Credit” category. Bad credit can be caused by many of life’s unfavorable events, sucky consequences, and decisions gone wrong!
Most people believe that the whole credit scoring system is complicated and scary, therefore, they choose to go through life blindly until something pops up that requires good credit and then they feel lost, frustrated and confused as to how to fix it.
Bad credit can keep you from buying that home that you desire, the new car, the engagement ring for your fiancé, or even a loan to help put your child through college.
Even if you can get financing with your poor credit, believe me when I tell you that you will be paying a premium price for that money and that is money out the window.
CHECK OUT THIS EXAMPLE!
The ugly truth is that it’s not only costing you a few extra percentage points in your interest rate, it is costing you thousands and even hundreds of thousands in hard earned cash!
Credit affects more than just your wallet. Bad credit also carries emotional baggage. When we experience bad credit we rate our self-worth and allow our confidence to be shaken. The fear of a company checking our credit to secure employment or when applying for that promotion can stop us dead in our tracks. Oh yes, a promotion can be determined or declined by using your credit score.
People with less than perfect credit pay higher interest rates for credit cards and loans, higher insurance premiums and it can prevent them from renting and/or buying a home. All of this because companies generalize people with bad credit; they take the stand that if you mishandle your own money, you may also be a careless driver or unable to manage your work.
Because credit affects so many areas of our lives, it is critical that you take control of your credit and improve it so that you can enjoy the same benefits that our “Good” and “Great” credit score owners enjoy. If you think it’s not possible, well I’m here to share with you the possibilities.
If you are ready to take action, then click HERE or the link below to discover the way that Credit Gal can get you the financial freedom you are searching for so that you can enjoy the bonuses of a good credit score in your life!
Total all of your credit card balances and multiply the balances by 5%. This is an approximate amount of how much money you are throwing out the window each year on your credit card debt. 5% is an estimate of how much more you are paying on your interest rate over people with good credit. (e.g. $10,000 in balances x 5%=$500 annually)
Write the total of extra money you are spending each year on credit card balances down and make a list of 10 things you would buy or do with that money.
Now take that amount and multiply it by 5 (representing 5 years) and again make a list of 10 things you would buy or do with that new amount. (e.g. $500 x 5=$2,500)