Credit as we discussed in previous blogs is simply put your ability to make payments over a period of time and your credit score is a numerical summary of your creditworthiness based on information from the credit bureaus. There is a major difference in the amount of money you will pay overtime just by having bad credit. I reflected a chart below to provide more clarity on what you can expect to pay overtime just by having bad credit. This chart is based on a 30-year 200K loan at a 5.6% interest rate.
As you can see from the chart above, Bad credit can cost you thousands of dollars over time. Imagine if that 200K loan was a 500K loan or a $1M loan. Think about how much that would cost you over time with just having bad credit. If your credit score is not where you want it to be then please give us a call today at (877) 446-3285 and we will give you a free consultation and help you improve your score. We have the skills, knowledge and expertise to get your score back on track to help you save more money over time. Stop paying outrageous interest rates to banks because of bad credit and invest that money in NC Credit Solution. We’re so confident we can help you improve your score that we offer a 100% money back guarantee. You have nothing to lose. Let’s improve your score TODAY.