Your credit score can either save you money or cost you money. According to myFICO, a 100 point difference in your FICO score could mean over $25,000 extra in interest payments over the life of a 30 year mortgage on a $300,000 home loan.
Thus, if you have a low credit score, it may be in your best interest to take proactive steps to boost your score to the higher scale – preferably above 740 mark as those with a score of 760 – 850 are more likely eligible for the most favorable interest rates.
What can you do if you are on the lower end of the credit rating range? And how can you raise it up to avoid paying higher interest rates or having your application rejected outright?
There are sites like https://www.thecreditpeople.com/ who could help repair your credit score and get your finances back in line – helping you access more affordable options for purchasing and financing the things you need in life.
This video below offers some excellent tips on how to raise your FICO score. It is a short video worth watching if you care about your score.