Skip The Shrink, Credit Scores Are Key To NO Stress

Want Less Stress|Check Your Credit Score

Your credit scores are the key to a stress free financial life.

When you have high credit scores, creditors will bend-over-backwards for you; they will actually compete to get you as a customer.   High score equal less risky equal great business for them.   High credit scores shows the financial industry that you take your financial responsibilities seriously.

A high credit score means you cost lenders, creditors, utility companies, insurance companies and landlords less money.   Those in the financial industry reward you by charging you less and extending you offers that consumers with low credit scores cannot get.

What’s In It For You With A High Score?

When you have a high credit score you will get the lowest interest rates on mortgages, auto and student loans.   You will pay lower premiums on your auto insurance.   You will be offered reward programs from credit card companies.   You can even use your high score to haggle with your landlord and utility company.

What’s In A Credit Score

Credit scores tell the financial industry how risky you are.  Credit scores range from 300 to 850, the higher your number the more likely you are to be a good risk.

Strive For A Credit Score Above 800

Financial Stress and Credit ScoresOnly one third of Americans can brag about having a credit score above 800.    If your score is above 800 creditors consider you to be financially perfect.   That three digit number shows creditors that you are a great borrower, you are reliable, you do not overextend on credit and you repay on time.

760 to 800

You’re doing good.   You are still considered a good risk.   You have demonstrated your creditworthiness.

725 to 760

You are above average.    You are still considered to be a good risk.   Work on getting above 760 to impress the financial industry even more.

Below 725

Well, you are right on the border of okay and need improvement.   With a little work on your part you can boost your credit score up and eliminate some financial stress.

Lower Than 550

You are not a good risk.   Lenders will consider you too risky to extend loans to, if they do, it will be at a very, very high interest rate.

Work It

Stress is part of life nowadays; but financial stress does not have to be.   Your credit scores can do so much to help you eliminate stress.

By making yourself aware of how you make your payments and avoiding late payments, you help the largest factor of your score, payment history.

Be aware of how much you charge up on your credit cards; you will be evaluated on your credit use to available credit; which is the second largest factor of your credit score.