Benefits of Having Good Credit; What is not Having Good Credit Costing
Benefits of Having Good Credit; What is not Having Good Credit Costing You?
Having good credit is important because it can have a big impact on
your financial life. Here are a few benefits of having good credit:
Lower interest rates: When you have good credit, lenders view you as
less of a risk and may offer you lower interest rates on loans, such
as mortgages, car loans, and personal loans. This can save you
thousands of dollars over the life of the loan.
Better terms: Lenders may also offer you better terms on loans, such
as longer repayment periods or larger credit limits, when you have
good credit.
Easier to get approved: When you have good credit, it is more likely
that you will be approved for loans, credit cards, and other forms of
credit.
Higher credit limits: With good credit, you may be offered higher
credit limits on credit cards, which can be useful for making large
purchases or managing cash flow.
More rental options: Landlords and property managers often check
credit scores when evaluating potential tenants, so having good credit
can make it easier to find a rental property.
Lower deposit: Many utility companies and service providers will ask
for a deposit when you apply for service, but with good credit, you
may be able to avoid or lower deposit requirements.
Better insurance rates: Some insurance companies use credit scores to
help determine rates, so having good credit can lead to lower
insurance rates.
Higher chance of job offer: Some employers check credit scores when
evaluating job applicants, so having good credit can give you an
advantage in the job market.
The ideal Credit Profile is below for lending and funding options is below:
- 680 plus credit score
- No charge-off or collections
- At least 2 open credit cards with $2000 limits
- Credit card history over 2 years
- Credit cards usage under 30%
- No bankruptcy
- Less than 5 inquires in the last 6 months
- Debt to Income under 40%
You can check all 3 credit reports here -
You offer Rapid Credit Repair to remove negative items; takes 2-3 months on average. Cost is $1000. Free Consult
It's important to note that having good credit is not only important
to get approved for loans, credit cards, or to rent a house, but it
also helps in many other aspects of your financial life.
Prestige Business Financial Services LLC
Email - [email protected]
Phone- 1-800-622-0453
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