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Your Credit
How you manage your spending, payment habits and resulting credit history and ultimately your credit score has become the biggest factor in not only determining if you qualify for financing but also what type of interest rates you will be offered. Your credit score will determine how much money either stays in your pocket or is paid out to lenders in the form of higher payments due to higher interest rates charged.As an example the difference between a market rate of 6.50% and that of 8.00% over the course of 10 years on a $200,000 mortgage would be over $24,000 in added interest costs and over $48,000 over a 20 year period. Add to that the extra costs associated with your credit card payments, auto payments, insurance premiums, etc resulting from higher interest rates and higher premiums for having a sub par credit score and you can see that it is an expensive proposition not to manage your credit record effectively.
I encourage you to spend time in this section of the website to gain valuable knowledge in building the one of the cornerstones of your financial success.
Related Links:
Manage and Improve your Credit Score
Disputing Items on Credit History
Obtaining your Credit Report
Your Credit History is For Sale