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The Shocking Impact Of Bad Credit Exposed When you look at the big picture, bad credit has a negative impact on your finances for many years and the extra money that is spent due to higher interest rates over the years is outrageous. The two biggest... More

The Shocking Impact Of Bad Credit Exposed When you look at the big picture, bad credit has a negative impact on your finances for many years and the extra money that is spent due to higher interest rates over the years is outrageous. The two biggest purchased made by consumers are new home purchases and new car purchases. Look below to see what low credit scores and high interest rates will cost you over the years in terms of paying more each month then someone with good credit. The numbers are mind blowing and unbelievable! This is further proof how important having a good credit score is these days. 30 Year Mortgage (Principle and Interest) Loan Amount of $350,000 Credit Rating Rate Payment Credit Cost Good 4% $1,671 $0 Average 7% $2,329 $236,880 Poor 11% $3,333 $598,320 5 Year Car Loan of $35,000 Credit Rating Rate Payment Credit Cost Good 1. 9% $612 $0 Average 8. 9% $725 $6,780 Poor 18. 9% $906 $17,640 As you can see from the above examples, having a good credit score saves you Less