What Bad Credit Costs

Credit Myths #1 -Paying off your credit cards each month will improve your credit"I don't have the time or money to fix my credit"...

This is probably the most common thing we hear from our clients. The truth is that you honestly don't have the time or money to NOT fix your damaged credit. It's important to understand that almost everything in your life is now controlled by your credit. Many employers are even using credit scores to determine who to hire.

When you think about the amount of money you are currently spending to pay for your damaged credit you can see that credit repair is downright cheap. From Credit Cards, to car loans, mortgages, and even your insurance on your home and car all cost you more money if you have a lower than optimal credit score. Here are some common examples of things in your life that may currently be costing you more money due to your credit score.

WHAT BAD CREDIT COSTS

 

Auto Loan

Average APR = 2.66% with good credit vs 16% with poor credit = $6788 difference in interest on a 60 month loan

Home Loan

Average APR = 3.75% with good credit vs 8.25% with Poor credit = $240,231 more in interest paid.

Credit Card

Average APR = 10.99% with good credit vs 21.25% with poor credit = $7891 more paid in interest


As you can see having a poor credit score is extremely expensive and will literally cost you hundreds of thousands of dollars over the course of your lifetime.  Click HERE now to set up your FREE CONSULTATION with one of our certified credit analysts to see how much money you could be saving today.