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5 Perks You Can Land If You Have Great Credit Scores


5 Perks You Can Land If You Have Great Credit Scores

Everyone loves earning perks, benefits, and bonuses, right? Credit card reward programs, brand loyalty programs, and even grocery store discount cards are built upon this very concept. However, while most people can easily recognize the value of a credit card rewards program there are still many consumers who do not see the value of having high credit scores in the same light. That is a costly mistake.

The truth is that great credit scores can help you to score a lot of awesome perks. Check out the list below to help you start viewing the potential value available to you by maximizing your credit scores.

1. Saving with lower insurance premiums.

When you have excellent credit scores you can secure lower interest premiums. You may not be aware of this fact, but insurance companies routinely check credit scores when you apply for a new policy. In fact, your credit scores can even be more important than your driving record when it comes to determining how much an insurance company will charge you for an auto policy.

Earning great credit scores can pay off every single month in the form of money saved on insurance premiums. If your credit has improved since you took out your current insurance policy then it would be very advisable to talk to your agent or shop around to see if you now qualify for a better price on your insurance coverage.

2. Saving on deposits.

When you open a new utility account it is often common practice for the utility provider to check your credit in order to determine whether or not you will be required to put down a deposit for service. As a result when you apply for new electric service, gas service, cable service, or internet service having less than stellar credit scores can cost you. Additionally, when you apply for a new mobile phone account your credit will again be consulted not only to determine whether or not you will be required to put down a deposit for service but to also see whether or not you qualify for a new account at all.

3. Saving interest costs every month.

Did you know that financing a home with a questionable credit rating could realistically cost you nearly  $85,000 extra over the course of the loan? Purchasing a home with a credit score of 620 could cause you to pay an extra $235 per month on a $300,000 mortgage compared to what someone with a credit score of 740 would likely pay for the same loan. Over the entire course of a 30 year mortgage that is an extra $84,600 you would pay - a pretty expensive penalty for not having great credit scores.

If you have already overcome credit issues and have rebuilt great credit scores then you should take a look at your current loans (i.e. mortgage, auto, credit cards, personal loans, etc.). You may just qualify to refinance some of those loans at a lower rate and save yourself a bundle on interest.

4. Saving on vacations.

Having great credit enables you to land better credit card offers. Many credit cards offer exciting perks such as 0% interest on purchases for 12 months, generous airline reward miles which can be redeemed for free airfare, or even 0% financing with a specific resort or cruise line. However, the most attractive credit card offers are generally reserved for those consumers who have excellent credit scores. Achieving excellent credit scores can open the doors for you to cash in on some amazing vacation deals.

5. Saving face.

If you have ever applied for financing in the past and been turned down then you probably can recall a vivid memory of the red hot embarrassment which crept its way up your face when you heard the words, "I'm sorry, but your application was denied." Simply put, bad credit can be very bad for your self esteem and your sense of self worth, especially if you are the primary bread winner for your family. It is well worth the hard work required to build better credit scores just for the pay off of the added confidence you will receive once you know you never again have to worry about being turned down due to bad credit.

Earning Better Credit

It is completely possible to start earning better credit right away. However, just because it is possible does not mean that the process is easy. Earning better credit takes a solid plan, hard work, consistency, and patience. In fact, it is very advisable to seek the help of a reputable credit professional.

CLICK HERE to schedule a no-obligation credit analysis with a HOPE4USA credit expert. Our team can help you build a plan to achieve the better credit you deserve - either on your own or with our help every step of the way. You can also CLICK HERE to download our free HOPE4USA Credit Repair Tool Kit. 


Michelle Black is an author and leading credit expert with over 13 years of experience, the credit blogger at, a recognized credit expert on talk shows and podcasts nationwide, and a regularly featured speaker at seminars up and down the East Coast. She is an expert on improving credit scores, budgeting, and identity theft. You can connect with Michelle on the HOPE4USA Facebook page by clicking here. 



Saving Money - Part 2

Saving Money - Part 2  By Michelle Black

Have you ever found yourself in a place where you have more bills than money? Money shortages lead to a poor credit rating, marital stress, and the inability to provide the things your family needs.  One of the first things you will want to do if you find yourself in a situation where your budget is unbalanced is look for a way to start saving money. We hope today's tip will be helpful.

Tip #2: Ask for your bills to be lowered. Similar to yesterday's tip regarding asking for your credit card interest rates to be lowered, you can also request for many of your monthly bills to be lowered as well.  Try calling your cable company, explain that you have seen some great offers for satellite TV and that you are considering switching services. However, before switching, you wanted to check with them to see if they could offer you a lower monthly rate. While you are at it, ask for your internet service bill to be lowered as well. I have personally saved money off both of these monthly services just by calling and kindly making the request.

Other monthly bills you may be able to get lowered with a request include your cell phone bill (even if you are currently under contract), your lawn care bill, your newspaper subscription, your insurance bill, etc. By calmly and politely making the request you can save yourself a lot of money. When making the request for your bill to be lowered please keep the following in mind:

1. Always be polite and calm. Getting angry will most likely insure that you do NOT get the bill reduction you need. 2. Explain why you need for the bill to be lowered. For example, "I have seen an offer for a better rate" or "I cannot afford to continue making such high payments and I'm trying to balance my budget." 3. Ask for a supervisor if necessary. The first customer service agent you speak with likely will not have the authority to lower your bill. 4. Don't take no for an answer. If the supervisor refuses your request politely explain your reason for needing the bill lowered again and ask "What can you do to help me please?"

Remember to check back with us again for part 3 of our money saving blog series. Saving money can help put you on the path towards a balanced budget and even a healthier credit report! If you need personalized credit or budgeting advice please feel free to give our friendly staff a call at 704-499-9696.

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