7 Staggering Statistics Good Credit Combats

What would happen if you lost your job tomorrow?

What would happen if you lost your job tomorrow?
How long could you survive?
1 week
1 month
2 months

How would you pay for:
mortgage
bills
clothes
food

Did you know:
49% of Americans live check to check
40% don't have $400 saved up between the entire household
Nearly 10% making $100k+ say they can't make ends meet
Most workers state they're in debt and think they'll always be
71% of all US workers said they're in debt
56% save $100 or less per month
61% can't cover 6 months worth of expenses in an emergency
*source CNBC.com

What would make this situation easier?
Good credit = good job = lower APR's = more savings
Good credit = good job = more savings = money in an emergency
Good credit = less stress = stability = financial wellness

What changes can be made?
Utilization/limits/balances:
lower utilization = higher scores
higher limits = lower balances = lower utilization = higher scores
lower balances = lower utillization = higher scores

Late payments/unpaid charges-offs (not older than 24 months):
late payments = lower scores = higher APR's
but current accounts with prior lates = higher scores (catch up on your lates!)
unpaid charge-offs = lower scores = higher APR's
but paid charge-offs = higher scores = lower APR's (such as mortgages)
even better: no charge-offs or late payments = highest scores = lower APR's = savings

An awesome tool to check out woud be nav.com.
It only shows Experian & TransUnion (for personal credit but also has business credit tools and reports) but gives great info on credit mix, how many points scores can raise by paying down $x on x account, etc. You should check it out!

Thinking about your current credit situation alone without adding anything else to it is enough, I know. If I'd been your credit consultation getting you consistent deletions on your file for 3 months now, while also building your scores and credit history, some of these worries would be issues of the past!

For a consultation, simly schedule one at expertcreditsweeps.com/book-online

Comments

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