02/04/2020
Why do some people have such great credit and others struggle all the time? It's not lack of discipline, it's lack of usable information. We are taught since we were kids to get good grades in school but we're never taught how to build credit and maintain it. Guess what -it can be done !
If your credit is rough right now it's not your fault. Banks make millions off of people with problem credit, how is this possible ? Banks are the credit reporting agencies BIGGEST customer. Think about this : your looking to buy a car because your car is about to lose its wheels and you have to go to work. So you decide to buy something new because you have to commute.
You go to your local car dealer and you find this nice truck. The finance department pulls your credit report and says you have a 500 score and says to you "u can have the truck but have to pay 17 % interest." You freak out ! and tell yourself, no way!! I'm going to Ford instead and they say again you have bad credit. "Oh no" not again. Then you try once more and you hear the dreaded "bad credit."
Your credit report score dropped 3 times lowering your score 15 points, making it worse. Did you know the reporting agencies got paid 3 times by the dealerships. This is going on thousands of time per day making the reporting agencies millions of dollars.
So next time you go to dealership remember this scenario is going on every day. Is it worth it to repair your credit ?
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* personal credit damaged * business credit damaged * applying for a job * trying to purchase a home or car ...