By Gerri Detweiler, Credit.com You've heard that not having a great credit score can be costly, and you probably know intuitively that it's true. But how much can it cost you? An extra $4,000 a year? That's not an exaggeration. Let's take a look at some of the ways your credit score can directly impact your pocketbook.
If you're preparing to buy a home, you probably know that your credit score is important. Maybe you've already been turned down for a mortgage because of a low credit score. Or maybe you've recently pulled your credit report, only to realize that your credit is worse than you expected.
If you know a single thing about buying a home, you probably know that your credit score affects whether you qualify for a home loan. If you have terrible credit history - lots of missed payments, high credit card balances, public liens, bankruptcy, etc. - your chances of actually getting a mortgage are slim.
By Geoff Williams You've probably heard over and over that it's important to have a credit card or two and to use them responsibly if you want a high credit score. No doubt you've also been told that making monthly, on-time payments on your mortgage and car are other ways to keep your credit score healthy and impress lenders.
