Fixing your credit can seem difficult. Years of being in debt, fighting through credit card bills, and dealing with a looming credit score can make it feel like the idea of escaping bad credit impossible. While in reality, all you need is a little coaching.
At Shamika Saves I provide credit coaching to not only help you raise your score, but to help you make necessary life changes so you can be put back on the path towards a high credit score.
It’s just a fact that not enough people know about their credit, how it works, or what they can do to help improve their credit. For all they know it’s a magical number that is assigned to them with no meaning. When in fact it has massive implications on their ability to purchase a home, rent an apartment, receive a car loan, or make any kind of large scale purchase.
At Shamika Saves I can coach you to live a better credit lifestyle. One that not only will put you on the path towards a better financial future, but one that is going to lead to major benefits down the line. Lower interest rates, better credit card options, and less time waiting on loans are all possible when you have a great credit score.
What Is A Credit Coach?
You may be wondering what a credit coach is and how one can help you. A credit coach is someone who will quite literally coach you through the entire credit process. At Shamika Saves I am your credit coach. I will show you the ways of credit and how you can raise your score, keep it at a sustainable level, and what that will require in your life.
Like an actual coach, I can only do so much though. While I teach and plan you will be the one who needs to execute those plans and make them work. I am here to teach you and I will hope that you are a willing learner.
As we go through my coaching you will learn the best practices of finance such as how a credit card can help you, what kind of debt is good debt, and how your credit score impacts your day to day life.
Don’t go another moment without understanding your credit. Allow me to be your coach so you can better understand your credit and also understand your finances. The two go hand in hand together after all.
What Is Credit?
Credit is, as the name says, how much credit you have to your name in paying off debts, loans, and bills. For every car or mortgage payment, credit card bill, and loan payment you are essentially contributing to your overall credit. Payments on time go towards positive credit while payments missed will contribute towards negative credit.
Having positive credit will obviously affect you in a positive way and negative credit will impact you in a negative way, but how is this shown? It’s shown through two methods. Your credit score and your credit report and while similar they are extremely different.
Credit Report vs. Credit Score
Whenever an unpaid bill reaches collection, or you fail to pay your mortgage on time, that goes on your credit report. That unpaid bill then stays on your credit report for at least seven years. Even after it has been paid off. Credit reports give anyone that inquires into your credit history, a full look.
Your credit score on the other hand is more of a quick look into your credit history. A score is placed on you that anyone inquiring into your credit can look at. The higher your score the better your credit and the lower your score the worse your credit is. This is a very quick look at your credit.
A part of Credit Coaching Services in Palm Bay FL is helping you understand the difference between your credit report and credit score while also teaching you what you can do to use them to your advantage. It’s almost worth noting that just because you have a missed bill on your credit report does not mean that you are immediately not going to qualify for a loan ever again.
How Your Credit Affects You?
Your credit will have the most impact on you when it involves a large purchase. Think car loans or mortgage payments, but there are other aspects of your life where you will still see your credit report or score come to light and be judged. As a credit coach, I can not only teach you about this, but what it will mean for you.
Purchasing or Renting a home
One of the most common occurrences of receiving a credit check is when you are attempting to purchase or rent a home. Your home will likely either come with a fairly large mortgage, or a lease agreement to pay rent.
If you are purchasing a home then your mortgage is going to have an interest rate. If your credit report is full of late charges and you have a low credit score then you are going to receive an extremely high interest rate and cost you money down the line.
If you are renting, and it’s for a highly competitive location, there’s a possibility that you will be passed over for someone else with a better credit score.
Through my Credit Coaching Services in Palm Bay FL, I can help you reach the point where your credit score and report will be something that keeps your interest rates low and your approval rate on rentals high.
Credit cards can be great. They help you improve your credit score through purchases with credit and then paying off your bills. As you continue to pay off your bills on time your credit score will rise.
However, with poor credit, you will either have heavy interest rates applied to your credit card or potentially have credit cards denied entirely. My Credit Coaching Services in Palm Bay FL will teach you best practices for using a credit card and how you can turn those credit payments into a positive for you.
I am here to be your credit coach. Whether you understand credit and are in need of some help to get back on track or you have no idea what credit is, I will help you. Just give me a call or use my online contact page. At Shamika Saves we are here to help you.