Not everything that comes with a good credit score is obvious.
When I was in my twenties, I wasn’t good with money and had a low-paying job, which led to past-due payments, a defaulted student loan and a poor credit score. However, over the course of a few years, I improved my credit. As a result, my life improved significantly.
Paying off debt and improving your credit isn’t “simple,” as I read recently on one personal finance site. Still, once you gain momentum, it becomes easier as you watch your debt go down while your credit score rises. Then life starts getting better. Here’s what fixing bad credit can do for you…
7 Ways Fixing Bad Credit Can Change Your Life
Not everything that comes with a good credit score is obvious. Check out these benefits and then learn how to build your credit step-by-step.
1. Goals become attainable
2. You can tap credit for emergencies
3. No more debt-induced anxiety
4. You can become a homeowner
5. Landlords will rent to you
If you have bad credit, your application will probably be denied by landlords, forcing you to choose an apartment or rental home in a less desirable neighborhood. Fixing your credit opens housing options.
6. You’ll feel like an adult
Now that I have good credit, I have my choice of car loan options, and I’m easily approved for credit cards and loans. After you improve your credit, you’ll have access to the same options that all your friends use to run up their debt. But you’ll be smarter than that because you dug yourself out of the terrible credit trenches.
7. You’ll have more self-respect
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Article last modified on June 21, 2018. Published by Debt.com, LLC . Mobile users may also access the AMP Version: 7 Ways Fixing Bad Credit Can Change Your Life - AMP.