Financial Clutter: How Are Your Credit Scores Harming You?
Financial Clutter: What’s Your Credit Score?
Many of us are seeking financial abundance. Lots of us have made bad financial decisions in our younger lives and now we’re paying for all the clutter that has amassed. Whether that means you’re needing to get payday loans consolidation, paying off bad investments, or thinking about the chances you had to make your financial life easier, it’s just part of life and you need to get through the tough times to ge to the good. How can the universe deliver if you aren’t doing your part? The physical, financial stuff outter clutter just as important as inner clutter.
Take Actions for clearing financial clutter:
- Find out your credit score.
- Can you determine if your credit score has negatively affected your life?
- Research your credit report for errors and take any action to correct.
- Choose one thing to improve your credit card scores right now.
Certified life coach, author & award-winning professional life organizer Julie Coraccio shares steps and tips to support you in creating the life you choose, deserve and desire through decluttering your life, mindfulness and how to organize your life. Having an impressive credit score will be important if you have any desire to invest in some of the real estate offered at https://residential.jll.de/.
About Clearing the Clutter Inside & Out
Clutter is stuck stagnant energy and prevents you from creating the life you choose, desire and deserve. We discuss clutter in all its forms: energetic, spiritual, emotional, mental & physical, relationships, health, finances and more. We share tips and take action steps for clutter free living and how to organize your life. We’re thinking outside the box on areas where people might not realize where clutter is blocking them. When we remove clutter from our lives we can discover our passions, lead the extraordinary lives we are all meant to live and share our gifts with the world.
Transcript Financial Clutter
Julie Coraccio 0:00
Today on clearing the clutter inside and out, we’re talking about clearing our clutter in our finances. Do you know what your credit score is? Are you losing money because you don’t have a good credit score? Do you know other ways your credit score may be affecting your life? Let’s continue our month focusing on back to school.
Are you ready to clear your clutter and share your gifts with the world every Tuesday at 1pm join me on clearing the clutter inside and out is I teach you how to navigate the waters to declutter your life, get organized and become more mindful. I’m an award winning professional organizer, author and certified life coach and I destroy the box and examine clutter in all areas. Every episode I’ll give you take action steps that you can easily apply to your life. Come on, let’s get started.
Today’s episode was inspired by our somewhat recent car purchase. And as a side note, if you name your cars they last longer. This is a scientific study done by yours truly with every car I’ve ever owned. We now have Minerva, a Subaru Forester.
When we went to get Minerva, they ran a credit score check both my husband and I had credit scores and the 800.
I was a little higher and had to tease them about that. Because of this, we were able to get zero percent financing for four years if we had pork credit, we probably wouldn’t have been given that deal. Instead, we’d be losing tons of money paying interest. Many of us are seeking financial abundance. How can the universe deliver if you aren’t doing your part? That’s why I talk about outer clutter, the physical clutter, financial clutter, as much as the inner clutter, they’re both equally important. I know many people who are wonderful beings wonderful at healing, entrepreneurship and doing what they do, but their finances are a mess. They could be serving more people having financial abundance, but their finances are in a mess. Know that no matter what you can improve your score. Why should you care what your credit score is? You will most likely have higher bills because you’re considered a risk. This includes Cell Phone providers, insurers and even utility companies, they may worry about your score and charge you fees or higher rates just in case Are you thinking about buying a home or renting after rent to income ratio, your credit profile or score is the second most important factor a property manager considers when reviewing an application. a landlord may not feel comfortable having you as a tenant. This also affects your mortgage rate. We have a 3.5% interest, which is pretty good. And we’re still paying thousands of dollars each year. Imagine if that were double. I don’t know about you, but I’d rather spend it on a vacation getting a massage something fun not paying the bank for if you found the house or apartment of your dreams, your score might affect Whether or not you could get it your love life. When doing research I found this out. A recent bank rate survey found that nearly four in 10 adults say knowing someone’s credit score will affect their willingness to date that person. A 2015 report from the Board of Governors of the Federal Reserve found that your credit score may affect who you end up with romantically and how long you’ll stay together. The better the score, the stronger your relationship may be. loan approval, your credit score is the biggest factor in determining your auto loan rate. higher interest rates if you have a bad score. Here’s something else I learned. Employers in most states have the right to run credit report. That’s a document that’s reflected in your credit score. They can do this on prospective employees The version of the report presented to employers is not exactly the same that a lender would see, but it can still bring major red flags to light. According to learn best 47% of employers run credit checks on job candidates primarily to reduce the potential for theft and embezzlement, reduce liability for negligent hiring and assess trustworthiness. What’s your credit score? Do you even know your credit score? You might not and it is important that you find out we found out our latest credit scores when applying for a loan for our car. A psycho FCO score is a type of credit score created by the Fair Isaac Corporation. Lenders use borrower’s FICO scores, along with other details on borrower’s credit reports to assess credit risk and determine Whether to extend credit. your FICO scores only look at information in your credit report. Your credit score is calculated from your credit report. Most of this information comes from the Consumer Financial Protection Bureau, I encourage you to check it out. It’s www dot consumer finance.gov consumer finance.gov there are four main ways to get a credit score. Check your credit card or other loan statements. Many major credit card companies and some auto loan companies have begun to provide credit scores for all their customers on a monthly basis. You can talk to a nonprofit counselor.
Nonprofit credit card counselors can often provide you with a free credit report and score and help you review them. Use a credit score service Many services and websites advertise a free credit score. But before you sign up to try one of these services, be sure you know what you’re signing up for, and how much it really cost. by a score. You can buy a score directly from the credit reporting companies, you can buy your FICO credit score at my fico.com Are you tired of being stressed out every time school begins? Would you or your child benefit from being more organized? Ready to be on top of it all and achieve your goals are successful school year, get organized, clear clutter and gain peace of mind. Facebook mastermind community can support you begin September 6. More information at reawaken your brilliance calm under, like organization masterminds. Tip go to annual credit report.com to view your credit score once a year. Because of the Fair Credit Reporting Act, every person is entitled to a free credit report once per year from each of the major credit bureaus, Experian, TransUnion, and Equifax. You can also request these reports by calling 1-877-322-8228 that’s 187732282 to eight. How to improve your credit score’s keep balances low on credit cards and other revolving credit. pay off your debt rather than moving it around.
Don’t close unused credit cards is a short term strategy to raise your scores.
Don’t open a number of new credit cards that you don’t need just to increase your available credit. more tips, dispute errors. Mistakes happen. You can dispute errors online through Equifax, Experian, and TransUnion. Negotiate. You can’t deny that you stopped paying a bill when you were unemployed. But you can ask creditors to erase that debt or any account that went to collection. Write a letter offering to pay the remaining balance if the creditor will then report the account as paid as agreed, or maybe even remove it all together. Know get the creditor to agree in writing before you make the payment. You might also be able to ask for goodwill adjustment. Suppose you were a pretty good credit card customer Until that period of unemployment when you made a late payment or two, which now show up on your credit report, write a letter to the credit card emphasizing your previous good history and asset the mistake be removed from the credit report. It could happen, be kind do all you can and then let it go. Check your limits, you don’t want it to look as though you’re maxing out each month. If the card issuer forgot to mention your newly bumped up credit limit request at this be done. Get a credit card having one or two pieces of plastic will do good things to your score. If you don’t charge too much and you pay your bills on time. Under use your cards. Don’t use cards to pay for everything. The credit utilization ratio should be no more than 30% and ideally even less. A 10% credit utilization ratio will maximize this part of your FICO score if your visa has a 1500 dollars limit and you routinely charge a grand a month. It doesn’t matter if you pay it all before it’s due. What matters is the credit bureaus think using two thirds of his credit what a spendthrift raise your credit limit. Ask your creditors to increase your limit, making that MasterCard good for up to $3,000. Be careful with this one though. It works only if you can trust yourself not to increase your spending habits. Don’t close any cards. canceling a credit card will cause your available credit to drop, which doesn’t look good to a bureau. One way to keep a card active is to use it for a reoccurring charge, such as a utility bill. pay your bills on time, your payment history, including the ones you pay late or skip makes up 35% of your FICO score. take actions from today’s podcast. Find out your credit score. Can you determine if your credit score has negatively affected your life?
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