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More Good Credit Score Benefits – Rewards of Good Credit

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More Good Credit Score Benefits – Rewards of Good Credit

good credit score benefitsThe other day I wrote a post about Good Credit Score Benefits and it was such a hit I thought I better do another post with some more rewards of good credit.

The topic of how to get a good credit score can often be a boring one both to write and to read so it’s fun to spend some time talking about the good credit score benefits and how they will positively transform ones financial life.

Today I came across an article written by Sabah Karimi, a writer for WiseBread who had some Good Credit Score Benefits of his own I wanted to share with you:

1. Increased credit card limits. Your borrowing capacity can increase significantly when you prove to creditors that you’re a responsible credit card holder and can handle more credit…

2. Attractive mortgage and refinancing rates. Lenders are more likely to extend an attractive rate for your home loan when you have a high credit score and clean credit history…

3. Lower financing rates on a car lease. If you’re in the market for a new car and are thinking of leasing instead of buying, you might have some bargaining power when you flaunt your high credit score…

4. Easy vacation home rental reservations. Planning an extended stay vacation and looking for a rental home? Talk to the rental agency about waiving fees or negotiate lower rates based on your credit history…

5. Excellent credit card deals. Credit-savvy consumers know that it pays to use reward credit cards as long as they pay off the balance each month…

6. More negotiating power. If you’re applying for a personal loan from a corporate bank or a private loan from a privately held financial institution, having a high credit score could give you more negotiating power…

 

More Good Credit Score Benefits – Rewards of Good Credit

Those are some awesome “good credit score benefits” to keep in mind.

The term “snowball” comes to mind when I think of good credit score benefits… the longer your credit score remains high the more the benefits snowball to where you start seeing advantages you never would have imagined would come with the package.

Start building your credit score today so you can also reap the good credit score benefits mentioned and the many others left as a pleasant surprise… Get your credit score today.

 

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Good Credit Score Benefits – How Good Credit Helps You

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Good Credit Score Benefits – How Good Credit Helps You

Good credit score benefits are numerous so today I wanted to paint a picture of some of the most common ways good credit helps you.

Good Credit Score Benefits – Your Credit Score and a Car Loan

Good Credit Score Benefits - Your Credit Score and a Car LoanOne of the more appealing good credit score benefits is the difference between what car payment loan you can afford with a good credit score and the one you can afford with a “not so good” credit score…

 

 

Good Credit Score Benefits - Your Credit Score and a Car LoanBecause lenders will adjust the car loan interest rate they offer based on the strength of your credit score.

It really isn’t much of an exaggeration that you potentially could pay the same car payment each month for the car represented on top or the one on the bottom.


Good Credit Score Benefits – Your Credit Score and a House Mortgage Payment

Good Credit Score Benefits - Your Credit Score and a House Mortgage PaymentMuch the same as the car loan payment above another of the many good credit score benefits is the ability to not only qualify for a home mortgage but to also receive a low interest rate potentially saving you hundreds or more per month on your mortgage payment.

 

Good Credit Score Benefits - Your Credit Score and a House Mortgage PaymentWhy pay hundreds of dollars extra per month on higher interest rates when you can get the most bang for your buck when you learn to reap the good credit score benefits available to all of us? You can save tens of thousands over the life of your mortgage with a good credit score.

 

Good Credit Score Benefits – Your Credit Score and Credit Card Interest Rates

Good Credit Score Benefits - Your Credit Score and Credit Card Interest RatesCredit card debt can be a killer or credit cards can be a useful tool to help you arrive safely at your financial goals and dreams. Another of the good credit score benefits is being able to obtain credit cards with a reasonable interest rate. The variable between high and low is staggering.

Good Credit Score Benefits - Your Credit Score and Credit Card Interest Rates

 

Credit card companies not only grant lower rates to their preferred clients with lower credit scores but they can also be more lenient with them if they need to defer a payment on occasion. Get out of the high interest trap by improving your credit score starting today.


 

The 3 examples mentioned above are only a few of the many good credit score benefits available to those who responsibly obtain and manage credit. Get your credit score today and begin moving towards the countless benefits of the lifestyles represented above.

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Better Your Credit Score

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Better Your Credit Score

better your credit score“Discipline is the bridge between goals and accomplishment.”
— Jim Rohn: was an American entrepreneur, author
and motivational speaker

Better your credit score with discipline? Yah I know it’s ANOTHER one of those posts.

Although I know I do a high percentage of posts with more of a motivational flair than actual step by step tips on how to better your credit score feel… no actually… I know… without discipline, dedication and long lasting resolve, all the tips in the world will not do you any good.

The actual technique to better your credit score is quite basic and you can find numerous posts within my blog going into great detail on this subject.

The discipline between your financial goals and financial success is a bit more twisty.

Many people have a garage full of great power tools collecting dust…

The trick is to motivate a person to use them.

What has worked for you in the past? What areas of your life do you achieve success easily?

Analyze where you have had past success and try to determine how you motivated yourself? What did you do to get through the tough times? How did you reward yourself for attaining goals?

Now take this same approach and apply it to help you better your credit score.

Logically, discipline is simply a matter of choice, but we all can be stubborn, resist and sometimes are illogical about matters for a variety of reasons and this is why it’s important to know yourself and what works for you in these situations.

If you were to better your credit score over the next year you would still require the discipline to maintain those financial habits in order to keep your score high over the long term so discipline is required not only to better your credit score but also to maintain it.

Dig deep to connect with the dreaded “D” word on your way to better your credit score and to attain your financial goals and dreams.

 

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Monopoly and the Credit Score Game

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Monopoly and the Credit Score Game

monopoly and the credit score game“The 80/20 principle – that 80 percent of result flow
from just 20 per cent of the causes – is the one
true principle of highly effective people.”
— Richard Koch: is a former management consultant,
entrepreneur, and writer

Have you ever noticed when playing Monopoly there always seems to be a moment in the game where there’s a financial tipping point in the direction of the eventual champion of the Monopoly World? The same is true with the credit score game.

Once this tipping point occurs usually things become very easy and lucrative for this particular player… they now control the majority of the assets and cash and gain mostly unstoppable power over the other players and the economy of the game.

This is where we see the 80-20 in place.

Learn the Credit Score Game

Now in real life anyone has the opportunity to be part of either the 80% who struggle to barely make it or the 20% who live with a greater sense of financial ease and security.

As in Monopoly we all are required to roll the dice with certain decisions but we have the luxury of research, education and experience to back these decisions so it isn’t based on pure luck.

By diligently and wisely setting your course and with some solid financial planning there is no reason any of us cannot reach this tipping point within our lifetimes and experience the benefits of such a lifestyle.

A perfect starting point and regular check point along the way is to be intimately aware of your credit score and how it relates to your past financial decisions and how you should adjust or continue with your future choices.

Monopoly is just a game… life is not!

Be sure to take your financial future seriously by creating a plan and then diligently sticking to it monitoring it along the way to provide tweaks and adjustments as required.

Learn from Monopoly and the credit score game to help create your financial dreams and goals.

 

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Is a High Credit Score Possible for Anyone?

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Is a High Credit Score Possible for Anyone?

high credit score possible“Start by doing what’s necessary; then do what’s possible; and suddenly you are doing the impossible.”
– St. Francis of Assisi

Many people come to me discouraged about their credit score…

Often they feel only a certain elite, those who “know the right people” or people born with a silver spoon have a high credit score possible in their lifetime.

I understand the frustration but in reality a credit rating worthy of low interest rates and the favor of the best creditors is within reach regardless of your social status, career, or address of your Zip Code.

Is a High Credit Score Possible for Anyone?

There is no smoke and mirrors involved in attaining the highest possible credit score.

It really just comes down to being willing to follow some common sense financial disciplines regarding credit and debt.

  1. It is important to get your credit score on a regular basis. Picture a mechanic trying to fix the engine on a car without opening the hood. You have to know whats broken before you can fix it. Get your credit score and study it for errors and to see where you are falling short. The FTC mandates every US citizen can get their annual credit report free once every 12 months. Take advantage of this.
  2. Pay your bills on time. Your credit score reflects the likelihood of you paying back credit extended so it makes sense the biggest red flag to creditors are from those who pay late or don’t pay at all. As soon as you get a bill enter its due date in your calendar, put a reminder in your cell phone or put a sticky note on the fridge if you have to… do whatever it takes to remind you to pay it on time… it really is THAT important.
  3. Don’t take out new credit unless you absolutely need it. Your credit score reflects how responsibly you handle credit. If you are forever getting new credit cards, lines of credit and loans for no legitimate purpose it looks like you are flippant with credit and seen as a credit risk.
  4. Don’t be quick to close old accounts… even if they aren’t being used. Part of your credit score strength comes from the average age of your accounts Older established accounts (especially if kept in good standing) are a bright star on your credit report.
  5. Be sure to contact the credit bureaus (Equifax, Trans Union, Experian) with any errors requesting the proper information replace the errant.
As with anything if a person is starting from the beginning it will take time to develop the proper habits and for the lenders to begin to trust your ability to handle credit responsibly so its important to be patient, consistent and to chip away at it.
Although a high credit score is possible for anyone don’t expect yours to sky rocket over night. Trust is something that takes time to develop and creditors are careful with who they lend their money to. The more trust you build the more favorable they will be with their interest rates and approval process.
Is a high credit score possible for you? Absolutely! Start today with the necessary, then do the possible and before long you will be amazed with the impossible…

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All Your Eggs in the Credit Score Basket

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All Your Eggs in the Credit Score Basket

all eggs in credit score basketWe’ve all heard the famous saying… “don’t put all your eggs in one basket”… well I have another one for you…

“Conventional wisdom is not to put all of your eggs
in one basket. 80/20 wisdom is to choose a basket carefully,
load all your eggs into it, and then watch it like a hawk.”
— Richard Koch: is a former management consultant,
entrepreneur, and writer

When it comes to the “credit score basket” there really only is one basket so your sole true option is to choose your basket wisely.

With our investment portfolio we can diversify.

We can hold some cash in savings, some bonds, some high risk and some low risk stock, real estate, local and off shore, precious metals, antiques and art and various other assets.

We can position ourself with multiple streams of income, use tax saving methods to shelter some of our income and even hire a financial service advisor.

All Your Eggs in the Credit Score Basket

Although we each have 3 credit reports; one from each of the 3 main credit bureaus, Experian, TransUnion and Equifax ideally they should all hold the same information so our approach is identical for each of them.

In the end we only have one credit score basket to work with so you better take it seriously and make the most of it.

The good thing is that at anytime it is possible to rethink how you use your basket…

As well you can choose to put different things in your basket and take out others…

You have the option of sticking it in the corner and forgetting about it or to carry it with you wherever you go and treat it with respect and care.

Many people scarcely realize they even have a credit score basket which doesn’t rank as an excuse for not having a good one.

How are you treating your credit score basket?

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Credit Score Project – Good Things Take Time

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Credit Score Project – Good Things Take Time

credit score project good things take time“No great thing is created suddenly.”
– Epictetus, philosopher
We live in an “instant” society… everything has to be “now” or at least “fast”.
Instant meals… instant credit approval… instant communication…
We have become an impatient people.

Credit Score Project – Good Things Take Time

Working on your credit score project can seem like a long and arduous task and many who I speak with are going crazy having to wait.

It’s important to realize, behind your credit score number are Corporations that consist of people who are making decisions based on how you have handled credit and your finances in the past.

Your credit score isn’t some randomly generated number but is one based on history over previous years.

Going forward, in order for your credit score to increase you need to show these same people you are able to handle credit better than you have in the past.

This requires trust to be built and trust takes time.

In previous posts I have shown you other credit score tips like disputing credit report errors and adding missing positive information to your credit report but once this is all in line it really comes down to consistent financial responsibility.

To be successful in your credit score project of raising your score to where you get the best interest rates from the best lenders it is important to have an action plan for increasing your credit score and then follow that plan consistently for the rest of your life.

Once these habits and principles are set up in your daily routine it really is not even extra work anymore but rather a way of life.

The Great Wall of China, the Coliseum and the Pyramids were built with quality and the intention of longevity… they were not built in a day!

On a lesser scale but with significant importance to yourself and your family your credit score project is one that will also take time but definitely well worth the wait.

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Is 600 a Good Credit Score?

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Is 600 a Good Credit Score?

is 600 a good credit scorePeople are always asking if there credit score is good or not.

For some reason “is 600 a good credit score“? seems to be a very popular question.

Oddly enough my answer today would be different than it was a few years back.

600 was a decent credit score before the economy began tightening up and now is it not considered all that strong.

Prior to the downturn banks were much more liberal with their lending but have since begun only lending with premium interest rates, or lend at all to those with much higher credit scores.

The good news to those with a 600 credit score is…

Your score could definitely be far worse so you have far less improving to do than many others.

Take your 600 credit score, fine tune your financial habits and before you know it you will be in with the upper echelon enjoying the best lenders have to offer.

Click here if you have no idea what your credit score is…

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