A High Credit Score Can Help with More than a Mortgage

February 09, 2014

Credit scoreWhen you’re building up your savings for a down payment and working to repair your spending habits to get approved for a mortgage on a new home in Chicago, it may be hard to see beyond that home purchase and it may be easy to think that you can go back to your old spending habits once the mortgage application process is over. If that sounds like you, read the Equifax Finance Blog article exploring why you should make good credit habits a way of life: ”

The Top Four Reasons Your Credit Score Is Important.”

  • You may qualify for better terms when you sign up for cable or Internet – many Internet, TV, and cell phone service providers now check your credit before they set you up with service. In some cases, if your credit is very weak, you might be denied an account.
  • Access to better financial bonuses – when you have good credit, you have access to better financial deals and opportunities. From lower interest rates to bonuses on accounts when you open new ones, there are lots of perks available to those who use the system to its fullest and maintain a high credit score.
  • Your credit score can impact your insurance premiums – while in Illinois it is illegal for insurers to approve or deny based solely off of credit score, your score can have a bearing on how much you pay. You could pay hundreds of dollars less in insurance premiums over your lifetime by improving your creditworthiness and improving your credit score.

For more information about the reasons to have a strong credit score or how you can make sure that you are doing everything to raise your score before you start the home buying process, see the wealth of articles on the Equifax Finance Blog.

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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