Do You Know What Your "Good Credit" Is Costing You??

I am sure you already know that your credit score dictates the interest rates you pay on credit cards, installment loans, insurance, and mortgages. What you probably don't realize is that with the recent credit tightening, even people with 700 credit scores are being penalized!!! That's right, I said 700 scores! Fannie Mae and Freddie Mac have instituted pricing add-ons for conventional loans with credit scores below 720. This means if you have a 719 score, you will pay a little more in your interest rate. If you have a 699 score, you will pay even a little more, and if your score is 680 or lower, you are really getting hit hard!! The surprising part here is that as little as a year ago, 680 was considered a pretty good credit score- I am here to tell you the rules have changed!

Now more than ever, it is critical that you know your credit score, monitor it, and take the steps to make sure you maximize your score to ensure your "good" credit doesn't cost you more. Fortunately, I have a solution for you. I have searched out and aligned myself with two companies who offer credit repair and restoration. Both companies have a great track record and will get the job done right. One is super fast, the other a little slower. If your looking to buy a home and you need to increase your score in a hurry, we'll go with the fast company. If your just looking to get "mortgage ready" so you can buy something in a few months, we'll go with the lesser cost option. Either way, you increase your scores, get better credit, and save money because you will qualify for better interest rates!!

How do you know if your credit is costing you more?? I am offering a FREE NO-Obligation identity theft review and credit consultation. Give me a call and we will run your credit, review your accounts for accuracy, make sure there are no erroneous accounts, ensure your identity is safe, and make recommendations on steps you can take to increase your credit scores. If there is more work than I can offer help on, I will make a recommendation to you on a credit repair/ optimization company. It's all free and there is no obligation to buy anything. As a matter of fact, I suggest that you perform this service annually to be sure your on track and no one has stolen your identity. This is just one of the many free services I offer my clients.

Many times I am asked "Can I do this myself?" Sure, if you really want to, the first thing you need to do is get a copy of your credit report. You can go to www.annualcreditreport.com and request a copy of your credit reports. You should request all three; Transunion, Equifax, and Experian. This is a FREE service and they will not try to sign you up for something or ask you for a credit card! Once you receive the reports you will want to review them for accuracy and be sure you agree with all the accounts shown. If you find errors, you can mark them up, prepare request letters, and dispute the items with the credit companies. They will have 30 days in order to research and respond to your challenge and make any changes.

So there you have it. In this post I have explained that if your credit is less than 740, it is probably costing you money somewhere. I have shown you where to go to get a free credit report and how to correct any errors you find. And, finally, I have offered you a Free identity theft screening and credit consultation to find out what we can do for you to increase your scores and save you even more money. I hope you have found this information helpful and I look forward to hearing from you.