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What is bad credit costing you?Posted on June 8, 2009

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.

Interest Rates on Mortgages:
A typical home mortgage can cost hundreds of thousands more in interest if you are buying a home with less than perfect credit.

Automobile Financing:
An auto loan can cost thousands more in interest if you are buying the vehicle with less than perfect credit.

Credit Status Rate Payment Cost of Bad Credit
Perfect 0-5% $377.42 $0.00
Good 10% $424.94 $2,851.20
Fair 14% $465.37 $4,722.54
Bad 20% $529.88 $8,593.30

If your credit is less than perfect, Trinity Credit Services can help. We have helped more than 20,000 people remove negative items from their credit report permanently! Call us today at 1-888-NOW-REPAIR (1-888-669-7372) for your FREE Credit Report Evaluation!

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