Financial freedom is a goal for most consumers, and the fastest way to achieve this goal is to establish and maintain a strong credit score.
When you borrow money, the interest rate is the cost you pay for the loan, and that rate is tied directly to your credit score. The higher your credit score, the more likely you are to qualify for loans, and the lower your interest rate will be should you chose to buy a car, a home, or use a credit card. Rental approval is also affected by your credit score. If you plan to rent a house or apartment, most landlords use credit screening as a way of selecting their tenants.
A solid credit score gives you access to lines of credit and higher limits which increases your borrowing capacity. Additionally, those consumers with good credit have leverage to negotiate rates and terms on new loans and credit cards. In the end, this provides you with more financial freedom and more cash in your wallet.
If you have good credit, you can avoid or reduce security deposits on utilities and even your cell phone plan. Additionally, many insurance policies factor in credit scores in setting premium rates. A solid credit score means immediate savings for you.
The benefits of a high credit score are abundant, and improving your score can provide you the freedom to make financial decisions, save you money, and help you avoid burdensome financial stress.
So, what does this mean for you? Let us schedule a consultation and create a plan for your financial freedom.