A good FICO credit score is one of the most important aspects of a
healthy financial situation.
Knowing what affects your FICO score and
why a good one is so important gives you great financial freedom and can
save you a great deal of money.
A FICO score boils down all of your
financial history into a number, which is used to determine your fitness
for loans, credit cards, rentals and even your employment and insurance
rates.
FICO scores are most often viewed
when you apply for a loan or a credit card. Based on a lender's
criteria, a poor FICO score may mean that you won't qualify for a
particular loan or card, or if you do that you will pay a much higher
interest rate.
Conversely, a good FICO score can result in lower
interest rates on loans, meaning you can save a considerable amount of
money on the loan over time.
Renting: There is
more to your financial health, however, than loans and credit cards. As a
result, FICO scores can also be used to determine your desirability as a
renter. If you've ever tried to rent an apartment, odds are your
potential landlord checked your credit score. A FICO score tells a
landlord whether you pay rent on time and if you've ever packed up and
moved in the middle of the night. Much like a loan, if you do manage to
rent a place with a poor FICO score, you might be required to pay a
higher security deposit.
Employment: If you're
looking for a job, your FICO score can be just as important as if you
were shopping for a low-interest loan. Potential employers are allowed
to check your FICO score. A poor FICO score tells your potential
employer that you can't manage your own finances or that you are in need
of money, which may prompt them to question your responsibility and
loyalty in other areas.
Insurance Rates: Finally,
a good FICO score can even help you find the best insurance rates.
Insurers can check your FICO score when you're searching for home and
auto insurance. Many insurers offer discounts for good FICO scores. You
could be charged more for a poor score or be denied insurance entirely
if your FICO score indicates that you don't pay your bills on time or at
all.
A good FICO score can make all the difference in how much
you pay in interest. It can also mean the difference between good
insurance rates, getting a job and getting an apartment.
If your Credit Score is not where you want it to be ... YOU can help you FIX THAT!
And it starts in just a few minutes from now...
Lease this revolutionary web based credit repair software for $14.95 a month for 6 months and get started fixing your own credit file TODAY!
Why pay a credit repair company for something you can do yourself BETTER!
Click Here to Get Started!
Lease this revolutionary web based credit repair software for $14.95 a month for 6 months and get started fixing your own credit file TODAY!
Why pay a credit repair company for something you can do yourself BETTER!
