- ORIGINAL NEWS
Raising your credit score can help you save $92 per month, report finds. Here are some expert tips
- SUMMARY
If you’re struggling with money, improving your credit score can save you thousands of dollars.
A recent study found that raising your score from fair to very good could save you over $22,000.
This is mainly due to lower interest rates on loans, especially mortgages.
Even small improvements, like paying your bills on time or asking for a higher credit limit, can boost your score.
Conversely, a lower credit score can also impact your car insurance rates.
Remember that your credit score is based on your financial history, so always try your best to manage your debts and avoid late payments.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“Increasing your score from fair (580 to 669) to very good (740 to 799) may help you save $22,263 over the life of your credit and loans, according to a new LendingTree study.”
“The best way to improve your utilization is to pay the balances down, if you can afford to, he said.”
Negative
“With household finances still tight for many Americans, increasing your credit score may be one way to save money.”
“There is little in life that’s more expensive than crummy credit,”