Three Things You Can Start Doing Today To Improve Your Credit Score

Great Credit Equals Financial Freedom

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.

Lower rates and better approval

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.

Qualifying for money

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.

Less money out of your pocket

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.

Here are three things you can start doing today to improve your credit score:

  1. Get a copy of your credit report, review it for accuracy, and dispute any errors.
  2. If you have any past due balances, pay them immediately. Make contact with your creditors and make the arrangements necessary to pay off any existing debt.
  3. Avoid using your existing credit, new credit card applications, and closing existing accounts that have balances until you have eliminated your debt.

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.

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