What is the Cost of Bad Credit?

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Your credit affects every part of your financial life. The average American with less than perfect credit spends an extra 30-40% a month in higher interest rates. Don’t allow your less-than-perfect credit keep you from reaching your financial goals.

Your credit affects more than you think. Here are just a few aspects of your financial life that are affected by your credit:

Employment Opportunities:

Employers in today’s market investigate your dependability along with your track record of responsibility based off of your credit. Employers look to see how you manage your personal finances and see whether they can entrust their finances with you as an employee.

Renting Instead of Owning:

The “American dream” is to own a home, but more importantly than having something to call your own is the financial repercussion of renting instead of owning an appreciating asset. The money that you are spending each year in rent could be going into your pocket instead of your landlords.

Automobile Financing:

If you are financing a car and have bad credit, you are probably paying thousands of dollars more than you would pay once you had restored your credit. This extra interest shows up every month in a dramatically higher payment. One of the first things that our members often do once they have restored their credit is to refinance their automobile for a fraction of their current payment or buy twice the car at nearly the same payment. Take a look!

 

 
 

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