Bad Credit Means Higher Interest Rates Which Cost You More Money



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Bad Credit Means Higher Interest Rates Which Cost You More Money

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Bad credit costs you more in the form of higher interest rates. But just how much money could you save with a better credit score? We break it down with examples.

Did you know that having bad credit will cost you thousands of dollars over the course of your lifetime because you are paying a higher interest rate? Think of all the money you spend on interest every month on your home loan, credit cards, and auto loans. A low credit score means you are paying a very high interest rate which translates into a lot of extra money spent each month.

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