Looking to buy your dream home and get a mortgage at today’s competitive rates? The difference of even just one percent of interest on a 30-year mortgage can be in the tens of thousands of dollars over the life of the loan.
Interested in getting unsecured credit card offers with low APR, rewards and higher limits?
Looking for easier approval for renting an apartment? The higher your credit score, the more confident a landlord usually is in letting you rent since they know you’re more likely to pay on time.
Shopping around for better car insurance rates? While your credit score will affect what kind of interest rate you get on a loan, a low credit-based insurance score can raise your insurance rates for your car, house and other property.
Having a “good” credit score is important, but having a “great” credit score is even better. A higher credit score makes life easier on so many levels, and you’ll save money since lenders offer their best rates to customers with high – or great – credit scores. It’s no secret that there are several benefits to having a high score. Simply put, it can affect many of your current and future financial decisions. If your credit is great, for instance, you have a better chance at getting a lower interest rate when applying for a credit card or loan.
There isn’t a formal definition of what a good credit score is, but generally, a minimum credit score of 680 is considered good. And if you have a good credit score, you’re on the right track. So far, you’re able to access basic financial products, like a standard credit card with low credit limit, as well as a basic cell phone plan and being billed for your utilities without paying a deposit.
And from there, by improving your credit score with responsible financial behavior – like paying your bills on time and having your rent payments reported to the nationwide credit reporting agencies – you can go from having a good to great credit score. With a great credit score, you could gain access to preferred auto financing to buy or lease a new car, be approved for the best apartment, receive credit cards offers with reward points and cash back on purchases, get the best cell phone plan, and even be approved for a low-interest mortgage to buy your dream home.
Going from a good to a great credit score can change your life by providing you with the freedom to shop around for the best financial products and loan terms. And if you’re paying rent, solutions like RentReporters can help you get there by reporting your on-time rent payments to TransUnion.
Improve your credit score. Change your life. Visit RentReporters at www.rentreporters.com