Do you have poor credit? If you do, you probably already know it’s costing you. But do you know just how much it’s costing you? Poor credit is definitely costing you more than credit repair cost, so let’s look at some of the expenses.
First, poor credit is costing you when it comes to your interest rates. If you have excellent credit, you qualify for what is considered ‘prime’ interest rates. This means low rates cost you the least amount to pay back. But if you have poor credit, your rate could be double or even triple what someone with excellent credit will pay.
Next, you could miss out on getting a loan or any credit because you have poor credit. You can get any loan, credit card, or other financing you want with excellent credit. But with poor credit, you may find yourself being denied again and again.
Next up, you might find that your poor credit is also costing you more for housing. It’s not just about interest rates on a mortgage. If you rent an apartment, you could be paying more as well. You could get denied outright when you apply, or you could pay more in the form of security deposits. That means you lose out on extra money you could have used for something else.
Credit Repair Cost for Better Car Insurance Prices
Car insurance providers are also allowed to look at your credit. That’s because statistics say that if you have poor credit, you’re more likely to file an insurance claim. And that means your car insurance provider looks at your score and then could charge you more per month just for the same (or even less) coverage than someone else.
If you’re looking at credit repair cost, you want to consider how they compare to any of these costs. For example, is it going to be more expensive to pay to fix your credit score or to continue letting that poor credit score cause you financial problems over the long haul? Chances are, you’re having more problems now than you would be getting things fixed.
Getting your credit fixed could mean countering all of these problems. It could mean better luck getting approved for loans that you need, lower costs for apartments and even paying back debts, and even lower cost car insurance. So it’s worth it in the end.
If you’re looking for a credit repair service that will get the job done right, then contact Lexington Law to find out more about credit repair cost. You could be on your way to better financial health in no time.