How Credit Affects You

Did you know that your credit can affect where you live, how much you pay in mortgage and even your insurance premiums?

The truth is that in addition to affecting all number of things, including your car payments and job search, your credit can have a major impact on the financing of your home. Where you fall on the credit scale will ultimately determine what loan program you qualify for and what interest rate can and will be offered to you. In short, your credit determines your financial power!

The Federal Trade Commission conducted a study that revealed that approximately 40 million people in the US had at least one error on their credit report(s). These simple errors affected the consumers’ scores, costing them thousands of dollars by way of higher interest rates on loans, other fees and stricter terms. One gentleman reviewed his finances and estimated he paid an additional $300 per month over the course of 10 years due to his credit rating! Luckily, his credit improved and now pays substantially less.

There are ways to clean up your credit report, and companies like Increditbleway are invaluable to that end. Take it from that gentleman who overpaid by nearly $40,000 – money he could’ve saved or invested wisely instead! Increditbleway was able to reduce his expenses by reviewing, removing and correcting erroneous information. You can say he’s walking lighter now and making better use of those savings!