Save Money and Lower your Payments by Improving or Repairing Your Credit

Having a better credit score not only represents easier access to money from lending institutions, but more importantly represents instant money in your pocket.

This probably sounds like something obvious for most of people, but it isn't until you start thinking in terms of real examples and real dollars that most of us start to understand the magnitude of the benefits associated with a good credit score.

For example, let's say that John, with a credit score of 640 wants to buy a house with a 20% down payment. At the same time, Terri who has a credit score of 720 wants to buy the same house with 20% down also.

Did you know that John, will be paying $108,600 more than Terri for the same exactly house? (assuming a $200,000 sale price with a 30 year mortgage).

People with credit scores of 720 and higher are more likely to retire younger and wealthier, because they will have to pay less money to acquire goods like their home, cars, etc; than someone with lower credit score.

Getting a credit score of 720 is not as difficult as credit institutions make it sound. There are proven techniques and guides that can help you achieve that goal.

Copyright © 2005 Excellentcreditnow.com All Rights Reserved

Carmen Shearer is the President and CEO of S&S Financial Services. She has worked in the finance arena for over 10 years and holds two engineering degrees and an MBA from a branch of Harvard Business School. S&S Financial Services offers you credit repair tools and information with a lifetime guarantee. For more credit related information go to: http://www.excellentcreditnow.com

More Resources

Unable to open RSS Feed $XMLfilename with error HTTP ERROR: 404, exiting

More Credit Information:

Related Articles

Building Good Business Credit After Bad Credit
Can you establish good business credit if you have bad personal credit? The answer is yes..
Get Your Credit Score To Soar In The Twinkling of An Eye
Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto loans. More recently, credit scoring has been used to help creditors evaluate your ability to repay home mortgage loans.
How Do I Establish A Good Line of Credit?
A line of credit, roughly defined, is the amount of credit that can be given to a borrower from a lender. Usually a contract or note of promissory is exchanged between the two parties, in which both parties agree to the line of credit amount, as well as the annual interest due to the lender at the end of the term.
Credit Repair Companies and Credit Counseling
Let's be crystal clear, right up front. Paying someone to "fix" your credit is a waste of your time and money, since the negative issues that are temporarily removed from your file will only reappear again in a couple of months.
Finance - Money, Money
Finance is a big word for some of us. It's a little scary.
Credit Scoring: What You Dont Know Can Hurt You
You've probably heard the term credit scoring. You may have some idea that your credit score can have an effect on your life.
Credit Card Security Advice
Which of the following is the biggest threat to your credit card security?a) Shopping online with a credit cardb) Shopping in a real store with your credit cardc) Ordering something over the phone with your credit cardThe answer may surprise you. It's b - shopping in a real store with a credit card.
Why Consumers Need a Nationwide Credit Freeze NOW
What do a shoe retailer, an online discount broker, and a popular clothing retailer all have in common? All three - DSW Shoe Warehouse, Ameritrade, and Polo Ralph Lauren - sustained breaches to their customers' accounts. Unfortunately, these three are not alone when it comes to security breaches.
Credit Card Benefits and Drawbacks
Credit cards have both benefits and drawbacks. It is wise to consider both before applying for a credit card.
Five Reasons to Repair Your Credit Score - You Can Do It Yourself
There are multiple reasons that tell us why we should have a 700+ Credit Score, but these five facts will definitely give you the big picture and hopefully will drive you to want to fix your credit score starting today.Fact #1: Did you know that consumers with Credit Scores of 700+ are likely to get interest rates up to four points lower than those with scores under 640.
Free Credit Reports Now Available From the FTC
The Federal Trade Commission (FTC) has set up a new website (www.AnnualCreditReport.
Credit Repair, How To
Credit repair, is in a word, vital to reestablishing your credit. Unless you plan to never use your credit again, then you have to find a way to fix it.
Minimum Credit Card Payments to Rise
For years, major credit card companies have allowed cardholders to make minimum payments of 2% of the outstanding balances on their credit cards. Having customers pay the minimum doesn't reduce the balance by very much, but when the 18-30% interest rates that many credit cards charge is applied, the result is a profitable ones for the banks that issue credit cards.
0% Credit Cards
These days, credit cards in the UK are competing with each other on two very attractive offers with a headline rate of 0%. These 0% credit cards will be either balance transfers; introductory purchases offers or a combination of the two.
Learning the Disturbing Facts about Credit Card Debt
When I received my first credit card in the mail at age 18 I was ecstatic, I said to myself, wow now I'm getting somewhere in life. This credit card company thinks I'm worthy of 500 dollars in credit.
ChexSystems: Alternative Options for People Whove Been Checking Accounts
Individual banks elect to become members of ChexSystems, and to use their services.Those individual banks are the ones who decides what is sufficient cause to close your account and report you to ChexSystems.
Credit Report And Correction Techniques
The three major credit bureaus, Experian, Equifax and Trans Union are similar and feature a "Credit Score", which is created from credit report data submitted to them about you. Their report includes where you live, your bill-paying habits, and bankruptcy and arrest information.
Free Credit Reports - How to Maintain Your Credit Profile
Maintaining your Credit ProfileEvery consumer should be maintaining their credit profiles to ensure the highest scores possible. To do so, you must first order your credit reports from the three major credit bureaus: Equifax, Trans Union, and Experian.
Credit Score - for Scoring the Right Loan
Somebody once said, "There is always a way of knowing your limitations and going beyond it." It is fundamentally true with respect of credit score.
What is a Credit Report?
Ever wondered what is a credit report? If you've ever applied for a credit card, a personal loan, or insurance, there's a file about you. This file is known as your credit report.