Have you checked your credit score lately? If you haven’t started building a credit history, or if your score isn’t that great, you may not be aware of all the different life hacks that having a good score will give you. But if you’ve been diligently paying your bills on time and building up your credit score, congrats! Check out these awesome life hacks that come with having a great credit score!
1. Saving Money on your Mortgage
Lenders consider multiple factors when calculating the mortgage interest rate you’re applicable for. Because a good credit score is an indicator that you’re a trustworthy borrower, having a good credit score could help you qualify for a lower mortgage interest rate! And getting a low rate could save you hundreds or even thousands of dollars over the life of your loan! If your credit score has improved since you first got your mortgage, you may qualify for a lower interest rate through refinancing. Whether you get a great low rate now or refinance into a low rate, having a good credit score can help you save money on your mortgage!
2. Get Cash with a Personal Loan
Personal loans can be used for almost anything – home renovations, vacations, education expenses, you name it! But if you don’t have a good credit score, getting a personal loan can be difficult. Lenders want to see that you have a good history of repaying your credit on time, and that’s what a credit score shows. However, if you have a great credit score, you could qualify for a better interest rate and get the loan you need to pursue your dreams! Many personal loans can give you funds in just a matter of days – and sometimes the very same day! If you have a great credit score, check out some top personal loan lenders near you!
3. Get a Better Deal on your Car Insurance
Did you know that your credit score affects more than just applications for loans and credit? Having a good credit score could actually lower your auto insurance premiums! Many insurance companies will consider a person’s credit score when determining their premium amount, since multiple studies have found a correlation between being financially responsible and being a safe driver. Therefore, if you have a good credit score, there’s a good chance you’re a safe driver, and thus less risky to insure! If it’s been a while since you’ve gotten your car insurance, or if you’re in the market for new car insurance, check today’s offers to see if you’re getting a good deal.
Improve Your Credit Score Today!
Having a great credit score is awesome, but if your score is less than ideal, it’s easy to feel left out of these incredible life hacks. After all, who doesn’t want to save money on their mortgage or their car insurance? But don’t worry – you can get total credit coverage today through ExtraCredit! With ExtraCredit, you can check and monitor your credit score, work on building your score, protect your identity, and earn cash rewards! ExtraCredit is a great service even if your credit score is already awesome, by continuously monitoring for threats and for ways to improve your score. If you want to take control of your credit score, get ExtraCredit today!
