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Recent Posts
5 Things In Your Credit Report You’ve Got To Know About
How much do you know about what’s in your credit report? Many people may be …Read More »
Key To Raising Your Credit Score Using Credit History
Believe it or not, credit history has a huge impact on your overall credit score. …Read More »
How Length Of Credit History Affects Your Score
The amount of time you’ve had credit makes a difference in your credit score. In …Read More »
Everyday Things in Your Life That Your Credit Score Can Affect
in Credit Scores/by New Opportunity ProviderIt’s pretty common knowledge that your credit score will affect your ability to get a loan, but there are some everyday living factors that your credit score can affect too. For instance:
Insurance rates: Believe it or not, the amount of insurance you pay can be directly tied to your credit score. Great score equals lower rates while poor score equals higher rates. Every state doesn’t allow this, however.
Approval for an apartment: Is there an area you’ve been wanting to move to for a while? Well, many apartments use your credit as a means for adding stipulations to your application. Poor credit may equal higher deposit or monthly payment in general just to offset any “risk”.
Utilities: Once you move into your new place, your score can make it difficult to have your utilities turned on. A bad credit score could mean you have to pay a huge deposit to turn on those necessities like lights, water, and gas.
Why You Should Begin Maintaining a Good Credit Score
in Credit Scores/by New Opportunity ProviderIf you’ve let your credit score hit the dumps, there are some areas in your life that it may affect. Most people already know that poor credit makes it tougher to get an installment loan or mortgage. But, there are other issues that can come up too, for instance getting a job.
Although it may seem irrelevant for an employer to judge you based on your credit score, some do. Anything from legal issues to habitual missed payments may send a red flag up to employers. The good news is there are some states that have outlawed this practice. You’ll just have to check and see if your state is one of them. Even if employers aren’t allowed to judge you for your credit, some agencies can refuse to license professionals with poor credit.
For those who want to go the independent route and start their own business, it’s important to have good credit too. If you have bad credit, it can affect your ability to get a small business loan.
Benefits of Keeping a Clean Credit History
in Credit Scores/by New Opportunity ProviderKeeping a clean credit history makes life a whole lot easier. Whether you’re trying to get a car, apartment, job or loan sooner or later someone will use your credit history to judge you. But let’s focus on how your credit score can affect your ability to get a loan. Getting a loan such as a mortgage or installment loan are the most popular reasons for improving and maintaining good credit.
With poor credit your chances of getting approved are slim and if you do manage to get approved, you will have to pay back astronomical interest rates. Other drawbacks of trying to get a loan with shaky credit include:
Having to jump through these extra hoops can be stressful and even embarrassing (especially if you need a cosigner). You may also have do a little more to get the loan, such as find a cosigner or put up collateral. Your best bet is to start now working on cleaning up your credit.
Trying To Avoid Getting A Title Loan? Here Are 4 Less Expensive Options
in Loans/by New Opportunity ProviderBefore you go knocking on a title loan lender’s door, consider other options for your short cash needs. Even if you think you’ve exhausted all conventional lending resources, there still may be other options you haven’t tapped into yet. Try to think back many years ago before title loans became an option. What could you do? Besides family and friends, you could:
Here’s What You Should Know Before Taking Out A Title Loan
in Loans/by New Opportunity ProviderWhen you’re in a bind, it can be really tempting to take out a payday loan. But, before you sign your name on the dotted line, take a moment to ask yourself if you’ve explored all your options yet. Studies show that nearly 80% of borrowers had other means of covering their shortage of cash. Some of the alternative options include:
Although these are some great options, they may feel too “extreme” or “uncomfortable”. But because pay day loans are hard to get out of, many borrowers will end up turning to one of these options anyway.
3 Practical (But Uncomfortable) Alternatives To PayDay Loans
in Loans/by New Opportunity ProviderWhen you’re in a bind, it can be really tempting to take out a payday loan. But, before you sign your name on the dotted line, take a moment to ask yourself if you’ve explored all your options yet. Studies show that nearly 80% of borrowers had other means of covering their shortage of cash. Some of the alternative options include:
Although these are some great options, they may feel too “extreme” or “uncomfortable”. But because pay day loans are hard to get out of, many borrowers will end up turning to one of these options anyway.