Your Credit Report
Your credit report might be reviewed for insurance requests, auto loans, student loans, home loans, credit cards, business loans, job applications, apartment applications, cellular service, vendor accounts, attorney retentions, and more to come. It is becoming more and more important.
The cost of mismanaged credit can be measured in the hundreds of thousands of dollars. For instance, here are the differences in cost by credit score for a loan amount of $180,000 based on older rates but the same principle applies:
|
Fico Score |
APR |
Monthly Payment |
Total Interest Paid |
|
720-850 |
6.109% |
$1092.00 |
$213,061.00 |
|
700-719 |
6.234% |
$1106.00 |
$218,311.00 |
|
675-699 |
6.771% |
$1170.00 |
$241,197.00 |
|
620-674 |
7.921% |
$1311.00 |
$291,916.00 |
|
560-619 |
12.192% |
$1878.00 |
$496,133.00 |
|
500-559 |
13.050% |
$1998.00 |
$539,351.00 |
Clearly, if one wants to take advantage of the best interest rates on the market, they will need a credit score higher than 719. As of the date of this publication, the average credit score is 692. If your credit score is under 720, you could benefit from an investment in your credit. Should you like to obtain a copy of your credit, click here.
If you are looking for a small bump in your score, the do it yourself method would be best. Learning about what goes into your credit score and manipulating your debts can be just enough do it. I suggest this helpful manual for the needed research (click here).
If you are in need of minor or major surgery, the Concord Premier credit repair program might be more appropriate. With unlimited disputes, a risk-free refund policy, free support, same day service, attorney client privilege, monthly credit score analysis, identity theft insurance, your own paralegal and anytime cancellation, it presents the most comprehensive solution.
Administered by Lexington Law Firm, this program got over 600,000 items deleted from their clients credit reports. Most of the success will be accomplished in the first 50-70 days and most people complete the process in six months. This small investment can save you hundreds of thousands and make dreams that seemed impossible reality.
To learn more about this program or to enroll, click here, and when you are asked for an agent ID number, enter 10409.
With any questions, please call us at 612-234-7283 or e-mail us at info@iloanminnesota.com.
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