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200 Million Credit Files: Yours is One of Them

CHECK YOURSELF BEFORE YOU WRECK YOURSELF! Ignoring Your Credit Score May Cost You More It impacts your ability to: It affects whether you can get a loan - and how much you pay. It helps guard against identity theft. Buy a house Buy insurance Buy a car In the past year... of adults have NOT reviewed their credit score of adults have NOT reviewed their credit report (148 million people) 60% 65% Why Throw Away 100K? A lower credit score means a higher mortgage rate. Based on a 30-year fixed mortgage of $300,000: Mortgage APR 5.869% 6.0% 5.323% 4.893% 4.679% 4.502% 4.280% 4.5% 3.0% 1.5% 0.0% 620 to 639 640 - 659 660 - 679 680 - 699 700 - 759 760 - 850 FICO Credit Score Monthly Payment $1,773 $1,800 $1,670 $1,700 $1,591 $1,600 $1,552 $1,520 $1,481 $1,500 $1,400 620 to 639 640 - 659 660 - 679 680 - 699 700 - 759 760 - 850 FICO Credit Score If applying for a $300,000 home loan and comparing the difference in payments between the best and worst credit score: $292 per month x 360 payments = paying $105,000 more with a low credit score. Of 330,864 users who pulled their credit report on Quizzle.com in the last 6 months, 215,460 had a score of 659 and below. Quizzle. 65% of individuals have to pay more than 5% interest on their mortgage! A Simple Mistake Can Make Your Head Ache A Federal Trade Commission study of the U.S. credit reporting industry from 2012 25% of consumers found errors on their credit reports 20% of consumers had an error corrected by a credit reporting agency (CRA) after filing a dispute 80% of consumers who filed disputes experienced modification to their credit report 10% of consumers saw a change in their credit score after fixing errors 5% of consumers had a maximum score change of 25+ points The big three credit bureaus Equifax, Experian and TransUnion – have at least 200 million credit files. If 1% of consumers had a score change of 25+ points, then 2 million consumers could raise their credit scores by more than 25 points! BUCKS.BLOGS.NYTIMES.COM CONSUMER.FTC.GOV DOUGHROLLER.NET FTC.GOV NFCC.ORG BROUGHT TO YOU BY IN PARTNERSHIP WITH Quicken Loans Engineered to Amaze Quizzle com Free Credit Report and Score GHERGICH& Co. QUICKENLOANS.COM

200 Million Credit Files: Yours is One of Them

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