We entered autumn this week, one of the nicest times of the year. You can feel it in the 70's temperatures and see it in the trickling start of falling leaves. Autumn weekends are
Let's Start To Fix Your Credit
Dated: November 16 2023
Views: 57
Let's start to fix your credit. I'm not a financial advisor or credit company of course but I do know something about this. Because so many people I meet have made big mistakes, I'd like to help you avoid them.
This is a 4 Part Series so stay tuned. I'm going to publish 1 article weekly on Thursday afternoons. Let me know what you think by commenting below or just messaging me.
Here's some basics I can help you with:
- How the credit system works
- Why your FICO score is so important
- What small steps can I take
- Let's create a winning game plan
How The Credit System Works
I know this does not make sense but paying off a loan can lower your credit score. Why? Because the credit system wants to see you continually using credit responsibly. So when you pay off a loan, you're no longer using credit.
Why Your FICO score (aka Credit Score) Is So Important
Your FICO score is how you are seen as a credit risk and a person. A low FICO score translates to you don't pay your bills you're always more than 30 days late. UGH!
Here's examples of how a low FICO score hurts you:
- Car, home & renter insurance will cost more
- You'll have a very hard time getting a landlord to accept you
- It may be impossible to get a mortgage or car loan/lease
- IF you can get a mortgage, the interest rate will be significantly higher
- Any loan you do get will be more expensive
- You might not get a job that you've applied for
These are just some of the negatives with low FICO scores. Comment below or message me on this. I'd appreciate knowing your thoughts and if this is helpful.
Barbara Weismann
I’ve always worked hard because I know success isn’t easy. Success matters because success means I’ve achieved your goals. You need more than a door opener. You need an agent who und....
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