Bad credit costs thousands of dollars and as you know Credit is a necessity. Whether it’s a mortgage, a car loan, or a credit card, good credit creates opportunities. Bad credit doesn’t. With today’s economic challenges, it is more important than ever to achieve and maintain a healthy credit score.
For those with bad credit, increased interest rates may further inflate their cost of living, making even small purchases seem difficult. A bad credit report can cost you thousands of dollars a year in overpaid interest, or can keep you from being approved for credit altogether. Use the chart below to see how bad credit scores may impact you.
$250,000 Home Loan Paid Over 30 Years:
(Scroll with your finger to see complete table on mobile device)
||COST OF BAD CREDIT