Embed Size (px)
DESCRIPTION
http://www.fixyourcreditscore.com A bad credit score can cause havoc in many areas of your life. If you have a bad credit score you aren’t likely to qualify for new credit or loans. Even if you don’t like using credit cards you will usually need one for things like: reserving a hotel room, renting a car, setting up utilities, getting a mobile phone account and so forth.
Citation preview
Bad Credit ScoreWhat is Considered a Bad Credit Score?
750-850700-749
600-699
500-599
300-499
Bad Credit ScoreBad Scores Can Affect Your Life
A bad credit score can stop you from getting a job.
Bad Credit ScoreBad Scores Can Affect Your Life
A bad credit score can stop you from getting an apartment or home
Bad Credit ScoreBad Scores Can Affect Your Life
A bad credit score can stop you from getting auto or homeowners insurance.
Bad Credit ScoreBad Scores Can Affect Your Life
What is considered a bad credit score? Generally speaking, anything below 620 is a bad credit score.
Your Score
Your Score
850
620
Bad Credit ScoreBad Scores Can Affect Your Life
A credit score between 620 and 680 is considered sub-prime
Your Score680620
Bad Credit ScoreBad Scores Can Affect Your Life
A credit score between 620 and 680 is considered sub-prime.How much is your bad credit score costing you?
Example 1: Auto loan: $30,000 car paid over five years:
Credit Status % Rate Payment Bad Credit Cost
Excellent 5% $566.14 $0.00
Mild Damage 8% $608.29 $2,529.00
Damaged 12% $667.33 $6,071.40
Bad Credit ScoreBad Scores Can Affect Your Life
A credit score between 620 and 680 is considered sub-prime.How much is your bad credit score costing you?
Example 2: Home Mortgage: $180,000 paid over 30 years:
Credit Status % Rate Payment Bad Credit Cost
Excellent 5.5% $1,002.22 $0.00
Mild Damage 8.5% $1,384.04 $130,327.30
Damaged 10.75% $1,680.27 $236,970.00
