Want to do big things in 2017? You might need to boost your credit score.
New Year's has always been a time for looking back to the past and planning for the future. It's the perfect time to reflect on the changes you want to make in your life. But some changes might be difficult to make if your credit score isn't where it should be.
A good credit score lets you do great things. Here's how.
Many new year’s resolutions rely upon your credit score. Here are some of this year's most popular resolutions:
- Get a new or better job - Many employers are now referencing your credit as an additional form of a background check. Many higher ranked positions require security clearances that rely upon your credit report and scores.
- Purchase a new car - Your credit will determine the terms associated with your loan. The higher your credit score, the better interest you will be able to secure. Additionally, you may save money from avoiding, or lowering, down payments.
- Purchase a home or move - Whether it be renting or purchasing a home, your credit score can impact your qualification. A higher credit score will lower your chances of high deposits when it comes to renting. For mortgages, a higher score will allow you to secure the best terms, as well as allow you to explore additional programs such as down payment assistance.
- Refinance loans - Do you already have loans established, but have a high monthly payment due to a high interest? By securing a higher credit score, you can refinance your loans for better terms. This will help you save hundreds to thousands of dollars throughout the lifetime of your loan.
- Build up savings - Having a higher credit score will help you save money in many areas. Your credit score and report is referenced not only for lines of credit but even for insurance premiums! A higher score will allow you to secure lower monthly payments that will help you build up your savings for other resolutions. Your saved money can help you save up for vacations, proposals, or just having the security of extra funds.
Improving your credit score doesn't just eliminate stress. It puts you in a financial position that can help you reach your New Year's resolutions. Have you checked your credit recently? We recommend checking your credit score at least quarterly to catch any inaccuracies that could be dragging it down.
Over 70% of Americans have errors in their credit report that they might not even know about! Don't let these mistakes lower your credit scores and hold you back from your goals. Call MSI Credit Solutions now!
MSI Credit Solutions provides superior credit restoration and comprehensive consulting services that are reliable and affordable. For any questions or to schedule a free credit consultation, contact us at (866) 217-9841.
*The information in this article has been provided strictly for educational purposes.
