Credit Scores

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The author James Baldwin said it’s very expensive to be poor. We often pay more for everyday goods and services depending on where we live. In this age of predatory short term pay day loans and high interest credit cards we must be mindful of our credit. A few late payments to the mortgage company or a forgotten gas bill and, suddenly, your once stellar credit rating is wallowing in the mud.

We are all getting squeezed right now as the price of food, gas and everything else is way up and too many of us think that our credit limit on our cards is money. It’s not. It’s borrowed money that you have to pay back with interest.

Even a few missed payments can reduce your credit score substantially, making it harder to borrow money, what interest rate we get for car loans, what we pay for insurance, etc.

We don’t always understand the importance of our credit score. It raises the cost of the credit you qualify for and can keep us from getting low interest loans.

First and foremost, start making payments on time. Payment history constitutes 35% of your total credit score. If you don’t have money for a minimum payment by the due date, but will the following week, pay it next week. Don’t just double up your payment the next month, because that makes you 30 days late and that will drop your credit score.

Next comes the hard part. Pay off what you owe—and don’t incur any new debt.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.


Credit Scores