Although many people associate their credit score with the the rate that they pay on their loan, they do not make the correlation between bills and their credit score. It is absolutely true that your credit score is the biggest variable when it comes to getting a good, or bad, APR on your loan but you need to pay attention to those bills if you want to keep your credit score high.
We all know that credit card bills and other loans effect our credit scores but did you know that not paying your cell phone bill or electric bill on time can negatively effect your credit score. Even if you do not have a collection agency after you, these companies have the ability to report to the 3 main credit bureaus when you do not pay them on time. This is just another way that you can avoid bad credit loans by keeping your credit score safe. Pay your bills, all of them, on time every time.
Monday, March 5, 2012
Why Is It That So Many People Are Struggling With Loans
One of the biggest problems that most adults face, when it comes to their financial future, is dealing with a low or non existing credit score. Though it may never have crossed your mind as a kid or young adult, your credit score will make things much more complicated as you get old, especially if you do not take the steps that are required to make that score a healthy one.
This is especially true when it comes time to request a loan. This is something that many people do not understand. You will need a loan at some point in your life. Do you want a car? Do you want to start your own business? Do you want to own your own home? These are all things that require loans and with a lower credit score, you will have a great deal of difficulty getting the money that you will need at that point. With bad credit, the only loans that you will be able to get are those that are aimed for individuals with a poor credit scores. Though at first glance these loans seem to be a god send. The truth is that they are there to take advantage of those that have a low credit rating in order to make more money.
Think about it, if you need the money and have no choice, you will be forced to accept a loan for people with bad credit no matter how much your bank is charging in interest. Believe it or not, this will cost you hundreds of dollars each and every month, or more! Your credit score is starting to look much more important isn't it?
The main goal of this site is to show you the dangers that are associated with low credit scores and loans for people with bad credit as well as teaching people just like you how to chance your path and make life much easier for you as far as fiances go. We will discuss several tips and tricks that may be able to help you make your financial dreams come true and save you a bundle of money in the process.
This is especially true when it comes time to request a loan. This is something that many people do not understand. You will need a loan at some point in your life. Do you want a car? Do you want to start your own business? Do you want to own your own home? These are all things that require loans and with a lower credit score, you will have a great deal of difficulty getting the money that you will need at that point. With bad credit, the only loans that you will be able to get are those that are aimed for individuals with a poor credit scores. Though at first glance these loans seem to be a god send. The truth is that they are there to take advantage of those that have a low credit rating in order to make more money.
Think about it, if you need the money and have no choice, you will be forced to accept a loan for people with bad credit no matter how much your bank is charging in interest. Believe it or not, this will cost you hundreds of dollars each and every month, or more! Your credit score is starting to look much more important isn't it?
The main goal of this site is to show you the dangers that are associated with low credit scores and loans for people with bad credit as well as teaching people just like you how to chance your path and make life much easier for you as far as fiances go. We will discuss several tips and tricks that may be able to help you make your financial dreams come true and save you a bundle of money in the process.
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