GET CREDIT CHECK READY

 Your credit score directly affects your approval for a new loan or credit card. The lower your credit score, the less likely you can find a willing lender. Many lenders will only approve a loan or credit card for borrowers with good credit or those who fall below a particular credit score with a high-interest rate.

A credit score of 698 is much different from a credit score 742. A 700-credit score is an ideal low-risk level for most lenders. However, the forty-four points between 700 and 742 make a real difference — with real-world consequences for your ability to get approved for a loan with the lowest prime interest rate.  More information.

Getting approved for a loan is excellent. But if your loan comes with a high-interest rate or restrictive terms, it could be a burden.

Every lender is different, and for competitive reasons, most are reluctant to disclose exactly how they set interest rates. But most are upfront that lower credit scores mean higher interest rates and stricter terms. For example, a higher credit score will help you qualify for better mortgage interest rates and lenient terms. For example, some lenders may lower their down payment requirement for a new home loan when the borrower's credit scores are high.

The impact of higher rates and more restrictive terms can be unbearable. An interest rate difference of a single percentage point can add tens of thousands of dollars to the total cost of a mortgage, depending on how the loan is structured. A single percentage point higher, and you could pay nearly $100,000 more over the 30-year life of the loan. WAY TOO MUCH! The same effect applies to auto loans, home improvement loans, personal loans, and credit cards, although the numbers are potentially smaller.

In many cases, the difference between good and not-so-good credit scores must be more evident for inexperienced borrowers. For example, if you're a first-time homebuyer with a 615-credit score, your only realistic chance at getting a mortgage might be an FHA home loan. But FHA loans take longer to close than conventional mortgages, which can scare off home sellers. They also come with expensive mortgage insurance requirements that may last the loan's entire life, adding hundreds to your monthly payment.

Also, because low credit scores cause your interest rate to be higher than a high credit score, your monthly payment will be much more and may cause your debt-to-income (DTI) to be too high for approval. A debt-to-income ratio is the percentage of gross monthly income that goes toward paying debts which lenders use to measure your ability to manage monthly payments and repay the money borrowed. There are two kinds of DTI ratios — front-end and back-end — which will typically reflect as a percentage, like 36% / 43%. More information.

• The front-end ratio is the percentage of income that goes toward your total monthly mortgage costs.
  
• The back-end ratio is the percentage of income that goes toward paying all recurring minimum monthly debt payments in addition to the monthly mortgage costs covered by the front-end ratio.
  

• The lower your DTI ratio, the more likely you will be able to be approved for a mortgage. A DTI of 20% or below is excellent, while a DTI of 36% or less is acceptable but at the threshold. Compare your debt-to-income ratio to the measurement standards below.

• 36% or less DTI ratio is good. A 36% front-end debt-to-income ratio and 43% back-end are acceptable to lenders because it reflects that you do not overextend your monthly expenses after paying your monthly bills, and you most likely have money left over for saving or additional spending.

• 37% & 50% DTI ratio is doable. The maximum allowed DTI can vary depending on the type of home loan you're applying for and the requirements set by your lender. In most cases, the highest back-end DTI that a homebuyer can have is 50%.

• 51% or higher DTI ratio is too high, although having a high DTI ratio doesn't mean you can't still qualify for a home loan. When considering your loan eligibility, lenders will examine your credit score, savings, assets, down payment, property value, and DTI.

To improve your DTI ratio, you can best pay down existing debt (especially credit cards) or increase your income. A larger down payment means you'll need to borrow less on a mortgage which means a smaller monthly fee which will reduce your DTI ratio also. A cheaper home also means a smaller loan amount which means smaller monthly payments and lower DTI for approval purposes. More information.

 If you're applying for an apartment or house lease and local laws don't explicitly prevent them from doing so, the landlord is likely to run your credit. Like it or not, landlords believe rental applicants with lower credit scores are less likely to make rent payments on time. Landlords are especially wary of applicants with patterns of late payments, delinquencies, collections, foreclosures, judgments, and bankruptcies in their credit reports.

Your bad credit can significantly impact where you end up living. Your children's school quality may be subject to location. Landlords who own well-kept, modern properties in desirable neighborhoods typically hold renters to higher credit standards because increased demand for their properties affords them the luxury of picking and choosing whom they rent to. We'll never forget a landlord telling us that he wouldn't rent his best properties to anyone whose credit score was below 640 but was more lenient with properties on what he called "the bad side of town."

He's not the only one. Small-time landlords like him and more prominent management companies follow the same general pattern. So, if your credit score is below prime, you could find yourself in a shabby rental, in a neighborhood you cannot peacefully sleep in. More information.

 According to a study cited by the Association of Psychological Science (APS), there's little, if any, correlation between employee credit and job performance. Worse, APS found that credit checks during the hiring process appeared to reinforce racial disparities in employment for Black job applicants.

But that doesn't stop employers from checking applicants' credit during hiring. Unless you live in one of the small number of states where the practice is banned or severely restricted, you should expect to have your credit checked when applying for a job. According to a survey by a think tank focusing on consumer finance issues — one in four job applicants experience a pull on their credit, and one in seven experience a denial of employment due to poor credit. Some jurisdictions require credit check disclosures.

Job applicant credit checks are prevalent in the government and financial. And the credit check process can rear its head even after being hired. Government agencies and contractors may run credit checks when you apply for a promotion that requires a new or higher-level security clearance, which means your boss could pass you over for reasons that have nothing to do with your job performance.

Getting a cellphone contract sounds trivial when you're worried about the cost of transportation, finding a job or place to live so you can have credit cards. But these days, living without a cell phone isn't an option. Do you even have a landline anymore?

Unfortunately, cell phone carriers pay close attention to new customers' credit when determining whether to approve a new contract. As in rental housing, they know that higher-risk customers are less likely to make timely payments or have enough money in their account on the auto-debit date. Even if you're only interested in a month-to-month phone plan, your carrier will still likely run your credit because they know how mistakably easy it is to rack up excessive data, roaming, and international calling charges in a single month. Some carriers accept security deposits in an arrangement similar to a secured credit card. If you make timely payments, you generally get your deposit back after a year or two.

A prepaid phone plan is another option. The catch is that you often have to pay out of pocket for your new phone or find yourself choosing from older, less fun models. Prepaid plans are more likely to have restrictions on talk and data usage, though these are less common than in the past.

The federal Fair Credit Reporting Act allows auto and homeowners insurance companies to pull consumers' credit reports when making underwriting decisions. Most states further govern this practice, though few outlaw it or severely restrict it.

Timely payment histories and outstanding debt levels are significant to insurers. If you don't stack up well on these metrics, you will likely pay higher premiums than someone with a better credit on an identical policy. More information.

Your credit score and overall credit profile can tremendously strain your personal life. Especially all the relationships that matter most to you. Although your credit profile doesn't merge with your spouse after marriage, their credit can affect your ability to qualify for or afford new loans that you're applying for together, such as auto or home loans.

Say you have excellent credit, and your spouse's is just so-so. When you apply for a mortgage, the lender looks at both profiles and assesses your household's overall credit risk as to the riskier of the two (you or spouse). So even if your risk is low enough to meet the lender's qualification standards, you're likely to pay a higher interest rate or larger down payment together than you would if you were applying for the loan yourself.

For example, if you and your spouse jointly apply for a credit card with you as the primary user and authorized user, their card usage and payment history (or lack thereof) can affect your credit. Your credit profiles suffer the consequences if they fall behind on payments or rack up irresponsible charges.

Situations like these can lead to tension at home — possibly threatening the relationship's existence.

A low credit score can keep you from acquiring the things you want and can prohibit much more than just financing. SuytableCredit.com want to help, but it starts with you. Decide to enhance your credit profile today. Start having a thriving relationship with your credit by removing doubt, embarrassment, and the COSTLY impact of living the HARD LIFE with BAD CREDIT. Do the right thing for you and your family's future.

NOT justIS NOT  just a number - it's also a lifestyle.

Our team of experts, with a collective 60 years of experience between them, knows that we can make a significant difference in your credit lifestyle. Our services include your private credit report analysis TO IDENTIFY inaccurate information and, on your behalf, contacting credit bureaus, creditors, and agencies to correct or delete inaccuracies through steadfast lawful demand, effective legal correspondences, and much more.

Suppose your credit reports are incorrectly inaccurate, with incorrect information damaging your credit score. In that case, we will work diligently to have the party(s) cease reporting inaccurate information so you can have the highest score possible. We understand credit score enhancement is more than just removing derogatory items from your credit report - we restore your credit standing to reflect who you are today - not the past.

We comply with federal and state credit reporting practices, procedures and laws. We also know what information on your credit report affects your credit score the most. We focus on you and your determination to change for better credit opportunities and relationships. SuytableCredit.com will help you reach and maintain good credit scores to achieve and enjoy a lifestyle of more excellent financial opportunities and growth for you and your family. We rewrite your story. You have a credit story; let us help you rewrite it by completing the free consultation form below. Immediately after submitting the free consultation form below, you will receive pricing information and FAQ & Answers via text message and email to put you at ease with what to expect during the process and completion timeframes. So remember to include your cell phone number and email address below. 

START RIGHT NOW!  

DON'T PROCRASTINATE!  

FILL IN THE BELOW FORM RIGHT NOW!