If you want to take advantage of credit and what it can do for you, you must educate yourself on it first.
Let's say you want to buy a home here in Houston, and you will need to get a loan.
Your credit score can help you get approved, get approved with less money on a deposit, and it can also help you save hundreds of dollars a month on the payments.
The average person overpays by $400 a month on their mortgage because they got the deal with a low number.
If you want to get a great deal on a car loan, you need to have a good number.
Not only will it help you get the deal with low payments and a low deposit, you will also save money on your auto insurance.
It is true that your insurance rates are impacted by your number.
To fully understand your score and the importance of it you need to know the easy ways to damage it.
The most common way is to simply just miss payments or pay too late.
With this economy and people struggling for a pay check, this has become an even more popular way to do damage.
Another way that might surprise you is with over checking.
This shocks people because there are dozens of advertisements ran daily that urge you to check your score as often as possible but the fact is that every time you check it or apply for financing, it goes down.
Other ways you can lower it include; identity theft, repossession, law suits, foreclosure, bankruptcy, and much more.
As important as it is to know how you can hurt your score, you need to know how to fix it.
The best way to fix it is by using credit repair.
There are many credit repair companies here in Houston that will help you repair your score in a matter of weeks and at an affordable price.