Are you Smart About Your Credit?
Everybody knows how important it is to have a good credit score. With a high score, you open a world of money saving opportunities. Additionally a high credit score gives you the best interest rates, better housing choices and even an advantage in seeking employment. Employers now consider a review of your credit score to determine your level of responsibility or trustworthiness. Leasing the latest automobiles, living in the nicest apartments or buying a home at the best mortgage rates are some of the rewards for good credit holders.
Unfortunately, bad credit can happen through no fault of your own. Job loss or low earnings, divorce, even identity theft can cause your credit score to drop. Furthermore, if you're not earning a sufficient income, or if alimony or child support payments are slow, your score can be effected negatively for slow payments. Sometimes a failed business venture causes the lack of debt repayment and causes the business owner’s shame, turmoil and an uphill battle back to financial solvency.
Credit can be a useful tool your financial well being or it can be an anvil tied around your money resources and headed straight to the bottom of the garbage pile. Credit that isn't paid for under the terms of the contract are serious blemishes on your score. And, even if the credit line is plentiful, using more than 30% of your line results in a bump in the downward direction. Yep, don't use the entire line you've given, and if you do expect a negative blemish on your score.
There's good news and bad news about your credit score, and I'll start with the bad news first. Bad credit stinks and can make life a challenge. With a poor score, unexpected expenses like auto repairs, medical bills, and other unexpected expenses are compounded with your inability to meet the financial requirement to resolve the problem. You'll go into debt to get things fixed, or wait until you have the money to cover the expense, and by then, it might even cost more than the original monies needed. The lack of money will cost you money. Isn't that nuts??
The good news however, is that you can fix your credit score - by your self, without paying a credit repair company. The myEcon Financial Success SmartMoneyKit will walk you through the entire process of what it takes to fix your score and give you the tools and education to keep your score on the higher end of the scale.
Don't let bad credit keep you from the things you deserve. Take action now. Get your SmartMoneyKit and rescue your immediate and future financial life.
Contact me about a Smart Money Kit.
rose@shiftingincome.net
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