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Are you afraid of your credit score?  I’m going to be honest, I am! While this is a sponsored post, this story and my opinions are 100% mine! I was part of the housing boom and crash, purchasing a new home in 2006, when the prices were at their highest here in Southwest Florida. They say hindsight is 20/20, and this was no exception to that rule. Between 2006 and 2009, I took a $200,000 hit on my property and had no choice but to let it go. This was one of the hardest decisions I’ve ever had to make, but it was the best decision for me at the time. In the 5 years since, I’ve worked tirelessly to improve my credit score. As I get older, it becomes more and more clear to me why this three digit score on a piece of paper means so much.

importance of monitoring your credit

The Importance Of Credit Monitoring

  • Utilities, Phone and Cable Services: Opening up new accounts with a utilities company might cost you more up front in deposits and down payments if your credit is less than ideal. Additionally, any contractual cell phone plans may require large deposits up front before beginning service.
  • Car Payment: This can cost you the most in the long run. If you must purchase a new car with sub-par credit, you will earn yourself a higher interest rate and a higher down payment will typically be required to secure the bank’s interest in the vehicle.
  • Housing: Whether renting or purchasing, companies will be looking at your credit profile. For rentals, many leasing agencies will be looking for bankruptcies or foreclosures. When purchasing a home, a less than ideal credit score is going to cost you big bucks in the long run as far as interest is concerned. If your credit is poor, a bank may even refuse to do business with you.
  • Establishing Credit: Credit is the financial lifeline for many people. Poor credit will reduce the amount of good credit opportunities you have, including student loans and personal lines of credit.
  • Career: Companies are using credit profiles to evaluate whether or not they should hire you. Excellent credit shows responsibility and that you care about your future, in the eyes of the company.

monitoring your credit score is important

These days, monitoring your credit couldn’t be easier, especially with Credit Karma™. Credit Karma™ is a mission-oriented and pro-consumer credit monitoring service. The provide you with weekly credit score, credit reporting, monitoring and more for the pretty price of free. They even alert you if a change has been made to your credit report.

Credit Karma monitoring your credit

It’s easy to take control of your credit when you can see how your purchasing decisions affect your credit, real time. Credit Karma™ even helps you shop for credit that fits your credit profile and needs as a consumer, completely taking the thought out of your “best credit card for me” decision. Using a credit monitoring service allows you to take back the financial reins and control over your credit future.

This is a sponsored post written by me on behalf of the Credit Karma™.