Credit Help Services by Credit Clean
You have the power to SAVE MONEY Credit Clean Rate Table How Much Money Can YOU save by cleaning up your reports? Since home and auto loans are purposely designed to make the most money in the first five years of the loan you save literally thousands in just a month or two after cleaning up your reports and getting your loan. This makes cleaning up your credit a better investment than having a 401K in both long and short term loans. If you hate paying interest at all then after you read the following information you may decide that working on your credit reports is a much more lucrative venture than most other things you might be doing. $100,000 home with a 30-year mortgage Credit Status | Rate | Payment | Cost of Bad Credit | Great Credit
| 7% | $665.30 | $0.00 | Average Credit
| 9% | $804.62 | $50,155.24 | Bad Credit
| 12% | $1,028.61 | $130,791.63 |
This first example shows credit scores that are poor cost the consumer $130,791.00 more than a person with great credit. This is not all during the full thirty year loan either, most of your interest is charged in the first 5 years and statistics show that consumers live in homes that are purchase for an average of seven years plus. Calculating this on a low end figure, you save $9,000.00 plus in one year $18,000.00 plus in two years and so on. This is a lot of money and it can definitely go towards a more useful purpose. Your investment in your credit is worth the effort even if you have fair credit because a person with fair credit still spends over $50,000.00 more than a person with good credit. This is even more when you consider the interest rates of today for those with good credit is anywhere from 4.9% to 6% which is a full point lower than what we have calculated above at 7%. $20,000 with a 5-year loan
Credit Status | Rate | Payment | Cost of Bad Credit | Great Credit
| 8% | $405.52 | $0.00 | Average Credit
| 13% | $455.06 | $2,972.40 | Bad Credit
| 20% | $529.87 | $7,461.00 |
This second example shows how much you can save even if you were financing just a five year loan for a mere $20,000.00 and at a much higher interest rate than those of today. As you can see even a consumer with Average credit is still paying $3000.00 more than a consumer with Good credit and if you are under "A" credit you are going to pay over $7000.00. It is worth it if you need a car but couldn't you use that $3000 to $7000 rather than pay it to a creditor? There is nothing more productive than your credit in today's society so cleaning it up and keeping it in good shape can give you years of rewards and save you tons of money not to mention the great feeling you get from knowing you have good credit and not worrying about being denied the things you apply for. Anything worth doing is worth doing right ... you have made the first step and we will do everything we can to help you get the best you can out of your credit. It will be with you for life so you have to maintain it just like anything else you invest in. Return To Previous Page Page Last Updated
Friday June 29, 2007 | 
