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10 Strategies to Increase Your Credit Score in 2016
Do you have big travel plans next year and want to apply for credit cards that offer rewards to help you get there for free? Or is 2016 the year you plan to become a homeowner? Then now is the time to spruce up your credit score. Here are 10 strategies you can use to get instant approvals on those rewards cards or the lowest possible rate on your mortgage. Check for Errors on Your Credit Report The first step to a better credit score is knowing what’s in your credit report. There are three companies that report on your credit: Equifax, Experian, and Transunion. Visit annualcreditreport.com for more information on obtaining…
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The Real Value of Good Credit
We’ve all seen the television commercials about the importance of knowing one’s credit score. But how much is good credit actually worth? The answer may surprise you. A low credit score is symptomatic of poor financial habits–habits that can cost you BIG TIME, in addition to any exorbitant interest you may be paying on your monthly credit card bills. How much more could it cost? Let’s say you’re buying a $200,000 house with a 20% down payment. On a 30 year $160,000 mortgage, having a credit score of 650 instead of 750 can cost you nearly $35,000 in additional interest payments over the life of the loan. Check your Credit Report for free The first step to…
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