Credit, especially good credit, is very important. It affects almost every major buying decision. Good credit can help you get a good rate on a credit card, car loan or home mortgage. It can also help you when it comes time to sign an apartment lease agreement or maybe even get a new job. But how do you get good credit?
To get good credit, you must have credit. Good credit ratings are gained when you borrow money and pay it back on time and for the full amount or keep them under 10% debt ratio. Let’s say you have a credit card that you use only for gas because you don’t carry a lot of cash around. Each time you go to the station, you use your card to fill up your car. In so doing, you are promising to pay the credit card company back when you get its statement. When the statement arrives, you pay off the amount owed on time. The gas company that issued your card then reports to a credit bureau that you have paid on time and for the right amount. The more good reports that go to the credit bureau, the better your credit.
Having a good credit report enables you to borrow more money at better interest rates. Why? Because the banks know that based on your credit history you are a responsible person. Many potential employers also look at credit reports to judge a person’s responsibility. Hence, your good credit may even help you land a new job.
There is nothing good about bad credit. It is the exact opposite of good credit. While good credit helps you qualify for car and home mortgage loans, bad credit could keep you from being able to buy these large-dollar items. It will also keep you from qualifying for credit cards and may possibly hinder your ability to buy a house or apartment.
Here at Credit Services of America, we review your complete credit profile to understand exactly what’s all interrupting the reason to get approve for that house that you want or even that job that you’ve been dreaming about.
A Goal without a Plan is just a Wish. Give us a call TODAY at 844-FIX-URCR or click on the following link creditservicesofamerica.com to schedule your FREE consultation and create your personalize plan to achieve your credit and debt GOALS!
*Individual results may vary. Please call for details and to discuss your own individual situation.