Credit Score Tips: How To Reel in Thousands with Your Credit Score
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Credit Score Tips: How to Reel in Thousands with Your Credit Score
Let’s dive into some credit score tips today.
Did you know your credit score is the bait in your life that will either catch big prizes…or big flops?
If you toss YOUR credit score in life’s lake, what can you expect to catch? Well, it depends on what you have in your tackle box. And what you have in your tackle box depends on how well you’ve taken care of your credit score.
For example, if you pay your monthly bills on time, keep your credit usage below 30%, and focus on building a good credit mix (meaning you have a house payment, a car payment, credit cards, insurance plans, etc.), then you probably have some excellent lures and juicy bait to toss in the water and catch something big!
We’re talking about your dream house, a new car, a heftier retirement account, and just about anything else you’ve hoped to have in your life.
Because the better your credit score, the lower your rates. And the lower your rates, the more money you accumulate over time.
Think about it. If you have a score of 760 or higher, then you’ll likely reel in at least an extra $250,000 by the time you retire. All because you paid lower interest rates than someone who had…well, bad bait.
Those who have bad bait in their tackle boxes tend to have scores under 650.
This kind of bait isn’t going to get chomped on. It won’t even get a lot of nibbles. In fact, the only thing these subpar credit scores will reel are rejections and high interest rates. Which means you won’t get to feast on a dreamy life. More likely, you’ll have to scrounge and struggle to get what you want. Be it a house, a car, a loan, or even a small retirement account.
And that extra $250,000 that people accumulate in their bank accounts when they use good bait? Forget about it!
But fear not!
The good, tasty bait is available to anyone who wants it. You just have to put your pole down and start working on boosting your credit score. Which isn’t even all that hard. It just takes a few quick, consistent steps to start raising it.
Again, think about:
- Paying your bills on time every month
- Keeping your credit usage under 30%
- Getting a loan to help you pay off your credit cards
Check out some of our other videos for credit score boosting tips.
If your tackle box (aka, your credit score) needs a little help, our team is here to help. Because we truly believe everyone deserves to fish in a lake that’s filled with juicy prizes.