The Scariest Part of Halloween? Bad Credit Scores

October 30, 2011

Halloween decorationsWe all understand the basic clichés of horror movies. The person who tells everyone to split up is usually the first victim. Also, telling others you aren’t scared is like painting a target on your back. Unfortunately, many Americans today are uttering an equally dangerous remark about credit scores. If you or someone you know has ever said, “I have no idea what my credit score is,” chances are good that a scary surprise is just around the corner.

In “Don’t Let Billy Bad Score Haunt Your Credit This Halloween,” FreeScore’s Billy Bad Score – the one bad credit score that can ruin everything — reveals the reasons why being in the dark about your credit scores is so frightening.

  • While consumer credit decreased in August, Americans still owe $2.45 trillion; $790 billion of that is revolving credit.
  • In a 10-year span, from 1997 to 2007, America’s credit card debt increased 75 percent.
  • From 2007 to 2009, the median value of credit card debt rose from $3,100 to $3,300 per household.
  • In August 2011, 1 in every 570 housing units received a foreclosure filing.
  • In the fiscal year September 2009 to 2010, more than 1.5 million Americans filed bankruptcy.

If those statistics aren’t enough to make your hair stand on end, consider the possibility that you may have a bad credit score and not even know it. FreeScore can help give you peace of mind. With the Power of 3, FreeScore provides you with your three credit scores from the major credit bureaus, as well as 24/7 credit monitoring and automatic alerts to help prevent identity theft. These services can help you avoid becoming a victim of bad credit and prevent scary surprises like being rejected for a loan.

Categories: Economy

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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