http://the-private-student-loan.blogspot.com,The single biggest factor
that impacts the amount of interest you pay is your credit score.
People with credit scores over 750 pay a lot less interest than people
with scores of lower than 650. If you can increase your credit score
by 100 points, you can pay less interest, pay more principle and get
out of debt more quickly. Credit score is a huge factor in who gets
richer and who gets poorer in this country.
The little known secret about credit scores.
Those student loans you needed to get through college can have a huge
impact on your score. That small monthly payment could be crippling
your entire financial health through increased interest payments on
all your other bills.
When you have any type of loan, it shows the maximum credit, the
outstanding balance and your payment history. The credit score takes
into consideration the total amount of outstanding balances. The more
you owe, the lower the score.
You’re thinking simple, right? Newsflash, it isn’t.