Your Credit Score is what retailers look at when you want
that special financing to purchase something. During the
holidays, a lot of department stores will offer low or 0%
interest rate loans to entice the holiday shoppers. The
department stores are hoping that this will increase there
sales, but there is something you should know. They don't
just give you the low interest rates; it's based on your
credit score, and credit history. There is nothing more
embarrassing when the creditor says "NO".
No one wants to hear the answer NO when it comes to Holiday
Savings. If you can get 0% on any thing you purchase, that
is like having money loaned to you at no cost. So you can
keep that extra money in the account earning you some extra
interest, instead of paying it to someone else. Remember
you have so long to pay it off, usually on small purchases
the bank gives you 6 months. If you don't pay of the loan
in 6 months, the interest usually jumps to some ridiculous
high rate. The cool thing is, if you play your cards right,
and get your holiday shopping done on 0% interest loans for
six months, and you currently have your money in a high
interest account you will save money.
All of this comes with a credit check, and the best way to
be prepared is to get a copy of your current credit report
with all 3 scores. That way you are aware of your credit
status. Who wants to wait in line for an extension of
credit, and find out you don't have the credit score to do
so. I have talked in many articles about how your credit
scores can affect your life; this has been another good
example. I personally don't like throwing money away on
high interest to anyone, nor do I like being told NO. Be an
educated consumer, and start saving today for your future.
I know currently the average American has no idea what
there credit score is. This is amazing to me, especially
when your score is so important these days. Having bad
credit is like a dark cloud hanging over your head. The
good news is, you can fix it.
The conclusion to all of this is being informed. Make sure
you know the status of your credit, so for now on all you
hear is YES. Go out there and help the economy and start
shopping with confidence. But most importantly start saving
because of your good credit.
----------------------------------------------------
About the Author: Mike Clover is the owner of
http://www.my720fico.com . My720fico.com is one of the most
unique on-line resources for free credit score reports,
Internet identity theft software, secure credit cards, and
a BlOG with a wealth of personal credit information. The
information within this website is written by professionals
that know about credit, and what determines ones credit
worthiness.
