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Finance

Does your credit score really matter?

Does my credit score really matter? The answer is Yes! The most important question though to ask yourself is-who else does it matter to any why. The world we live in is full of people living the dream, along with hardworking people that are just barely getting by. The people we see driving flashy new cars, living in beautiful new homes and enjoying life…those are the ones that know more than anyone that your credit score matters and why. They are very aware of the benefits of having a high credit score. The higher your credit score, the less you pay according to industry experts Phoenix Credit Repair. It is that simple. Let us pretend that you are wanting to purchase a new car in the next few months. You check into your credit and you have a score of 620. It is not too bad but it’s not really that good either.

You have a reasonable down payment and start narrowing your choices down to what you really want to buy in the next two months. Now you have finally chosen the car you want. You go to the dealership and the salesman is more than happy and just as excited as you are. He runs your credit and he says “we have exactly the car you want and your payments will be exactly what you asked for”. You drive home with a huge smile on your face thinking….that wasn’t too bad, not bad at all.

Your spouse is thrilled with your new vehicle and takes it for a spin. You hand your spouse all the paperwork and tell them how you were the best negotiator and your payments are exactly what you wanted. Your spouse looks it over and says “seven years, we are paying this payment every month for seven years”? All you can figure is there has to be a mistake. But unfortunately you take a look at your interest rate and it all makes sense then. You are paying 20% interest on your new car. The only people smiling and happy now is your financing company.

Now let us go back to when you first checked your own credit score and it was 620. You still have a sizable down payment and looking for that perfect car. You decide to invest in yourself and contact a reputable credit consulting company that provides services that remove errors along with negative information on your credit. They strategically advice you to purchase a tradeline. You spend the rest of your down payment on a two seasoned tradelines, that almost instantly raises your credit score to 780. You have found that perfect car and go to the dealership and the salesman is once again just as excited as you are. He runs your credit and comes back with a huge smile on his face. He informs you that you can choose any car on the lot with zero money down. You decide on an upgraded car than what you previously settled on. The deal is finalized with your John Hancock and you drive home ecstatic, proud of your upgrade purchase. Your spouse takes it for a spin and decides it is now theirs.

Looking over the paperwork you discover you were given a better price overall and it was on your own terms. You didn’t have to put any money down on the car and your payments are exactly what you wanted them to be and for how long. This was only possible because your interest rate is 1.9%. Everyone is smiling now…you, your spouse and the financing company. Here is how and why this works for everyone.

When you invested in your credit by relying on credit consultants to evaluate your credit and followed their advice, that was your winning ticket. They are the ones who know the laws and what will help your credit score in the short term and in the long run. They understand everyday hard working individuals need a break too. They know the benefits of tradelines and how beneficial they can be to everyday people who want to purchase a new car or house. The financial institutions we all have to use in one way or another are in that business to make money. The only concern they have is when and how much money they are making off you. People with excellent credit pay lower interest rates and they pay their bills on time, every time. So the answer is YES your credit score really does matter.

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