Credit Coaching

5 Ways Poor Credit Can Change Your Life:

• Every purchase you finance is significantly more expensive.
• It can cripple your ability to buy a home or even rent an apartment.
• It can put limits on your credit cards and even lower existing limits.
• It can prevent you from getting a credit card or a loan.
• It can make your auto insurance significantly more expensive.
• 60% of employers pull a credit report before offering employment.

Every American should check their credit report annually to protect the health of their personal finances. A high credit score is a valuable asset that can save you lots of money, give you a greater array of financial options and provide more favorable financial offers. Even if you already have a good score, there's always room for improvement. Credit is the overall measuring stick of credit worthiness.

The components of a credit score (FICO, VantageScore, Beacon, Empirica...) and the information contained in credit reports are often hard to decipher and understand. Your credit score can affect your ability to obtain a business or student loan, buy a home, rent an apartment, buy a car, receive favorable insurance rates, or even getting a job. Further, checking your credit report regularly is a crucial step in protecting yourself from identity fraud or inaccurate reporting.

A recent survey of American credit habits reveals six in ten (63%) don't know their credit score, 47% never check their credit reports, 67 percent say they have never checked their credit reports for free, and 16 percent check their credit reports less often than once a year. Even if you’re cautious with credit usage and pay your bills on time, it still comes down to the fact that you have three credit reports, each with an associated score. Information in each of your reports can vary and a lender may use any one or more of those reports to make its decision. If you want to save money by getting favorable interest rates, knowing exactly what’s contained in each of your credit reports is critical.

We can help you obtain a free (see link to the right) or low-cost copy of your credit report which includes real credit scores and provide you with a free and confidential credit report review with a Certfied Credit Counselor to ensure you have the necessary tools to improve, maintain and protect your credit standing.

During a credit report review you will:

• Learn what information appears on your credit report
• Learn how to dispute any errors or inaccuracies that appear on your credit report
• Identify the factors and reasons your credit score is based upon
• Receive guidance on how to raise your credit score
• Determine common risk factors that influence credit scoring and lending decisions
• Learn how to protect yourself against identity theft and fraud
• Learn the importance of managing your debt and paying your bills

Why is having good credit important?

• Proves your creditworthiness
• Save money on interest -- 1% extra interest on a 30 year mortgage of $100,000 will cost an extra $26,902!
• Receive better benefits from competive marketing
• Emergencies may occur and a good credit standing allows you quick and affordable lines of credit
• Lower interest rates on automobile purchases
• Higher paying jobs since employers frequently check a potential employee's personal credit report
• Receive insurance approval and preferred rates
• Freely obtain utilities so no up-front deposit is required
• Easily rent a car since all rental car companies require a credit card deposit
• Reserve a hotel room
• Conveniently pay for unexpected repairs without the danger of carrying large amounts of cash
• Conveniently purchase airline/train tickets

Our Certified Credit Counselors are available to help you with most questions about your credit report and can help you develop a comprehensive action plan to build your credit scores.

Call 1-800-351-4195 to receive a free credit report review session. AAA Fair Credit Foundation is not a credit repair company.