Credit repair doesn’t exactly have the best reputation as a financial service.
Scammers love to prey on people’s desire for a quick fix for their credit scores, which had led to a lot of fraud in the industry. But make no mistake. Credit repair is a legitimate service that’s protected under federal law. You have a right to repair your credit and there’s plenty of good reason to do so.
With that in mind, we’ve laid out the top 6 reasons why someone might need credit repair.
- Reason #1: There’s a 1 in 4 chance your credit report has an error
That’s not some made-up statistic. It comes directly from a consumer credit report study by the Federal Trade Commission. In 2013, the FTC found that one in four reports contains some kind of error.
- Reason #2: You can refinance all your loans for lower interest rates
One of the main benefits of better credit is lower interest rates on all your loans. The interest rates you can qualify for are directly tied to your credit score. Better credit means lower rates.
- Reason #3: You’ll get discounts on car insurance
Low-rate auto loans aren’t the only way that better credit helps you save money. You can also qualify for better rates on your car insurance policy, too. Most auto insurers use what’s known as a credit-based insurance score. Essentially, a low credit score means you pay more for insurance, even if you’re a good driver with a clean record.
- Reason #4: Getting approved for new financing will be far less stressful
There’s nothing more stress-inducing than waiting to hear from a lender if you’re approved for a loan, whether it’s for a home, a car, home improvement or your business. It’s nerve-wracking sitting around wondering if your credit score is strong enough to get you the loan you want. And getting rejected for financing is heart-breaking.
- Reason #5: You can become mortgage-ready
Buying a home is still a big part of the American Dream… as long as you can qualify for a mortgage. Your credit score has a big impact of being mortgage-ready and determining your interest rate.
- Reason #6: Property rentals and car rentals will be easier
Whether you want to rent an apartment or a care for your vacation, the property owner will run a credit check. Bad credit means you can get rejected if you try to rent an apartment. Even renting a car can be problematic. If you have bad credit, they may make you put down a deposit to rent the vehicle, which could throw off your vacation budget.
SmartLife believes in providing the best value to our clients and we want to ensure our clients go to a reputable credit repair company. That’s why we recommend CreditRx America.
CreditRx America either gets results for you, or they don’t get paid. Most credit repair companies earn more money the longer you have bad credit and require you to make monthly payments and/or fees for writing a letter or reviewing your credit report. CreditRx America guarantees to only charge you after results, not before. That’s why SmartLife proud to partner with CreditRx America
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