Updated: Sep 28, 2021
Credit intelligence cannot be stressed too much!
In Season 1 on the show, we heard from ReScore CEO Janna Fox about how our credit score is the #1 asset in our divorce and why that is. Now, ReScore’s other founder, Paige White, is here to shed light on the importance of credit from a different angle. Paige helped found Rescore with the goal of educating and empowering people to improve their credit score and their credit knowledge, and I love recommending ReScore for my clients because they are all about giving people a hand up, not a handout.
There is a lot to be said about bad credit. You will find endless articles online about the perils of bad credit and we know divorce can be a hard hit on it which is why we are talking about it on the show. ReScore exists because of how evasive credit can be and feel, but today we want to put a positive spin on this whole topic because we know, and we want everyone to know, that establishing a good credit score will help you save money and make your financial life much easier—especially during and after a divorce. And on top of that, there is much more that a positive credit score can do for you!
Here are just a few of the awesome benefits of maintaining and if need be rebuilding your good credit:
Low Interest Rates on Credit Cards and Loans
you have a good credit score, you’ll almost always qualify for the best interest rates, and you’ll pay lower finance charges on credit card balances and loans.
Better Chance for Credit Card and Loan Approval
Having an excellent credit score doesn’t guarantee approval, because lenders still consider other factors such as your income and debt. However, a good credit score increases your chances of being approved for new credit.
Easier Approval for Rental Houses and Apartments
More landlords are using credit scores as part of their tenant screening process. A good credit score can greatly improve your chances of getting into the apartment or home you want! And at a lower interest rate for home purchase (meaning a lower house payment!)
Better Car Insurance Rates
With a good credit score, you’ll typically pay less for insurance than similar applicants with lower credit scores.
And of course, there’s just good old fashioned bragging rights for having a 700 or 800 something score! Who doesn’t love that?
These are just a few of the awesome benefits of positive credit that Paige and I talked about on the show. Listen now to hear all the rest!
#divorce #divorcecoach #divorcesupport #divorcetips #divorcehelp #whyyouneedadivorcecoach #divorcecoaching #divorcesurvival #divorcerecovery #Startingoverstronger #rescoreyourlife #creditrepair #creditscore #badcredit #goodcredit