In a time like this when the world is at a standstill due to COVID -19 and there are so many individuals who have become unemployed, for most in this scenario credit is king. It will be your credit cards that will keep you and your business afloat until you gather more funds.
In this article, we explain to you why credit is so important to you as an individual and for your business. We also explain how we can help you to get approved for our loans based on credit and how we can help you fix your credit score so that you can obtain the lowest interest on your loan possible.
Have you ever heard credit is king? This is very true. Having good credit will open the doors to just about anything more than having cash in the bank will. A great credit score will give you an extensive line of credit with low-interest rates. Your credit cards will also give you an extensive line of credit with lower interest rates. Good credit indicates that you have the ability to pay back any funds loaned to you, this allows the banks to have a report with you as a great payback individual by having good reports with the banks for long periods of time maximizes your chances of getting more loans. In a nutshell, credit is an extremely important part of your financial life and financial freedom.
Why Should I Fix My Credit
In a time like this when the world is at a standstill due to COVID -19 and there are so many individuals who have become unemployed, for most in this scenario credit is king. It will be your credit cards that will keep you and your business afloat until you gather more funds.
In this article, we explain to you why credit is so important to you as an individual and for your business. We also explain how we can help you to get approved for our loans based on credit and how we can help you fix your credit score so that you can obtain the lowest interest on your loan possible.
Obtaining A Copy Of Your Credit Report
The first thing that you need to do if you have not done this already is to run your credit report. There are companies out there that do charge a fee either a one time fee or a monthly fee BUT since here in SourcifyLending we are all about giving you the best information here are the top two places you can go and get your credit report for FREE.
- “Credit Sesame”
- “Annual Credit Report” – will allow you to run your credit report free every 12 months.
In these times of need, we wouldn’t recommend you spending any unnecessary money on these small details when we can give them to you for free. It is important to know what is on your credit report because there are a lot of security breaches and identity thefts happening every day and you want to be aware of what’s on your file affiliated with your name and social security number. VERY IMPORTANT!
How Do I Fix My Credit?
So you looked at your copy of your credit report and noticed that you are not in good shape. Luckily you have come to your main source. Here at SourcifyLending, we offer the ability for you to have a one on one personal communication with our credit repair specialist. We will review your credit report and offer you the best options to fix your credit. Whether it’s by taking off negative items that impact your report or by offering expert advice for special credit cards that are meant to help repair your credit. There are hundreds of ways for you to raise your credit score and we are here to help with all your questions to get you there.
Good Credit Benefits
Having good personal credit for business owners you can get zero percent on cards and loans. This will help you because you do not have to worry about paying it all off right away. This gives you the ability to get back on your feet, and if you want to do it quickly and with fewer fees as possible your personal fico is going to be the nucleus of everything. If you are already an established business you will have to do merchant processing, credit card processing debits card processing, and check to process. All those processing fees are connected to your fico score. A good credit score means lower processing fees. Your credit score can also determine whether or not you will have a reserve at a bank. Are you going to have to have a 1 to 5% hold off because the bank may be concerned that you will have chargebacks? If you have bad credit they may put a larger reserve on you of 10 – 15% and trust us you do not want that.
In conclusion, Credit shows the predictor of your behavior. If you are a person that keeps up with your finances your lenders are thinking that you are taking the mindset of a proactive person or business owner and you try to avoid risks and for this, they reward you with better interest rates and larger loans. So if you do not know where to start let SourcifyLending help you get that loan with the best interest rate possible.
SourcifyLending is the number one source to help you get on your way to a loan approval with no hassles and stress so you can direct your time to your business.