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Importance of Having a Good or Excellent Credit Score in Your Life

December 9, 2017

Importance of Having a Good or Excellent Credit Score in Your Life

 

You probably see commercials about checking your credit score all of the time when you are watching television. There is an emphasis on checking your credit whenever you can without worrying about a penalty that will hurt your credit. But why is there such an emphasis on having a good credit score? The reason is because your credit can have such a huge impact on your life. This will take a look at just how important having a good or excellent credit score in your life.

The biggest reason why a good or excellent credit is so important is because it can affect your financial life. This is what will determine not only your ability to get a loan, buy a home, rent an apartment, or buying a new car, but it can also have an effect on your interest rates when you get these loans. The higher your credit score, the lower your interest rates will be. You may also get additional perks like a lower down payment or even may not have down payment requirements. If you have bad credit, you may not even qualify for most loans and if you do you will end up having much higher interest rates.

 

What you may not know is that bad credit can affect you outside of your financial life. Bad credit is not just an indicator of your credit-worthiness, but it can also affect how people view you as a person. This can suggest that you may be a risky bet in other areas aside from just lending ability. You may end up paying more for your insurance as you may be perceived as a bad driver or a risk for not paying your bill. It can also show a level of irresponsibility in taking care of an apartment or showing up on time and performing well at work. Some jobs may not even hire you if you have bad credit. This is especially true in financial industries or places where you would be around high value items such as jewelry. They may consider you a risk for theft to help with your credit or just irresponsible with the goods at these locations.

If you have poor credit, don’t fret: there are things that you can do to improve your situation. Through the services of a credit repair company like ours, you will get help finding solutions that can improve your credit. Here at Advanced Credit Therapy, we understand that it can be very easy to feel hopeless when you have bad credit, as this makes your life significantly difficult. You are more than a number, so getting your credit up will only open up doors to you. Advanced Credit Therapy will give assistance in cleaning up your credit history while also giving you valuable advice that you need to improve your credit and prevent it from taking a big hit in the future. We have the knowledge and experience that will help you achieve a good credit score so you can live your life to the fullest.

 

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