The Hidden Benefits of Good Credit Scores

July 28, 2011

Everyone knows that having high credit scores is a good thing. However, many people may be unaware of some of the benefits that come with financial responsibility. As a recent post on the FreeScore blog illustrates, paying attention to your credit leads to numerous benefits.

In “Good Credit Scores: If You’ve Got ‘Em, Flaunt ‘Em,” the credit experts at FreeScore explain why having great scores is so beneficial. Drawing on a recent article in Money Magazine, the FreeScore post examines some of the perks that come with being in this exclusive credit club. Only one-third of Americans possess exceptionally high credit scores (over 750). As a result, credit card companies and other businesses covet this select group of consumers.

Credit card companies love customers who pay on time. They are usually willing to offer extra rewards or perks in order to snag a potential customer. Already satisfied with your current collection of plastic? Try calling your credit card company and asking for a higher credit limit or no annual fees. Many times, they will be happy to oblige (especially if you remind them that their competitors are more than willing to reward you for your high credit score).

If you’re looking to buy or lease a car, try bargaining with your credit score. Some dealers will offer lower financing rates because they know that you’re good for the money. When negotiating rates isn’t an option, you may be able to reduce the purchase price of the car instead. Also, you may be able to secure a lower car insurance premium by reminding your insurer that you’re financially responsible. If you know that you have great credit scores when your renewal comes up, be sure and ask your insurer to reevaluate your current rate.

High credit scores can also help when renting an apartment or a vacation home. Many rental agencies will offer lower rates or waive fees for customers based on good credit.

Are you unsure about your three credit scores? Do you want to know how to get the most out of them and take advantage of all of the benefits listed above? Start by accessing your three credit scores and other key credit information at FreeScore.com. FreeScore provides the knowledge you need to make good credit decisions and receive the perks you deserve.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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