Credit Card Debt Murrieta Menifee

A little Credit Card Shopping is not bad

As Long as You Pay It Off ASAP!

How Much Credit Card Debt is Too Much? How Much Credit Card Debt is Too Little?

Credit cards can be a helpful financial tool when used wisely and when balances are paid off quickly, but carrying any amount of credit card debt is generally not helpful to achieving your financial goals.

Determining how much credit card debt is bad for your financial situation is another matter.

If you have been late or defaulted on credit card payments, thereby lowering your credit score, it will affect more than just your credit worthiness. It could also have an adverse affect on your car insurance or home and auto insurance, the next job you apply for and more.

It’s Hard to Set a Goal Like Getting Out of Debt as Where You Want to Be, If You Don’t Know Where You Are! ↓ Watch This Video ↓

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Already Know Your Credit Score? How Will Affect Your Car Insurance PremiumsBAD OR GOOD?

Your Credit Score Holds Some Clues

Most People Don’t Know This Key Fact About Credit Scores

On average, motorists with inadequate credit (ratings in between 300-579) pay $635 even more for a six-month automobile insurance policy than vehicle drivers with very good credit history (740-799). This appears to a fine of over $100 each month. In the chart below, you can see just how much your credit history can affect what you pay for cars and truck insurance coverage.

If you think you are paying too much for Auto Insurance, we can help you with a
LOW BALL QUOTE

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The single most important factor in determining your credit score is your payment history. Pay on time, and your score soars. Miss payments, and the score will sink.

Drowning in Debt

Yet, 62% of Americans are in the dark about the fact that their payment history impacts their score more than anything else, according to a survey from CompareCards. The Compare Cards website says:

“The survey results made clear that while many Americans have dutifully checked their credit score in the recent past and know how important it is to their financial health, most of us still aren’t sure about what factors and behaviors play into the making of a credit score.”

Other survey findings include:

  • 32% have held off on paying down debt, falsely believing their score would suffer if they didn’t carry at least some debt.
  • 41% believe their credit score will suffer if they check it too often — which is not true.

Other survey findings include:

32% have held off on paying down debt, falsely believing their score would suffer if they didn’t carry at least some debt.
41% believe their credit score will suffer if they check it too often — which is not true.

How to boost your credit score

Paying your bills on time is indeed of utmost importance if you are trying to boost your credit score.

Lenders use the FICO score more than any other in determining how much of a credit risk you are. The factors that your FICO score is based on are:

  • Payment history: 35%
  • Amounts owed: 30%
  • Length of credit history: 15%
  • New credit: 10%
  • Credit mix: 10%

Having a great credit score can be a crucial asset to your financial life. In particular, a great credit score can get you the best rates on loans, such as car loans and home mortgages.

A bad credit score is likely to cause you to pay more for your loan if you can get the loan at all.

While paying your bills on time every time is the cornerstone of building a great credit profile, there are other things you can do to lift your score.

However, if it turns out that you’re in over your head, or know someone who is? If you need help with debt, or maybe just a little guidance or advice, all you have to do is call:

Consolidated Credit Counseling @ 888-739-9616 | A+ Rated with the Better Business Bureau

( NOTE: This is NOT an SGB endorsement – But our client’s have said good thing about them.)

That’s the number for Consolidated Credit Counseling, a national credit counseling company. Here’s what they can potentially do for you.

  • Combine all your credit cards into one easy monthly payment
  • Lower your interest rates
  • Stop new penalties and fees on your accounts
  • Save your credit rating from further damage

The credit counselor you’ll talk to will be a reputable, trustworthy expert; one who won’t try to sell you something. What they may do, if you need it, is work with you to develop a customized debt management plan. If you end up on a formal plan, depending on your ability to pay, you could have a small setup and/or monthly fee. But it won’t be much, and the peace of mind you’ll achieve will be well worth it.

If your debt level isn’t critical enough for a formal plan, you can still call 888-739-9616 and get friendly help and advice any time without paying a dime. Nice deal!

If a call now isn’t convenient, fill out the form below and they’ll get back to you whenever you tell them to. But our advice: Don’t bother filling out a bunch of stuff. Just give them a call at 888-739-9616 ASAP. You’ll be glad you did!

When you contact ACCC for a free credit counseling session, we can help you understand how much credit card debt is bad for your financial situation and help you select the strategy for paying off your debts.

You CAN Do This! So don’t find yourself at the Procrastination Station on Credit Card Debt.

 

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