Credit Bureau Credit Reports and Credit Scores are killing consumers finances and entire industries.

In January of 2007, the average American’s credit score was 689. By January 2008, the average credit score was 28 points lower.

This is at the same time that lenders are tightening standards for home loans and home equity lines of credit, and while credit card companies are using drops in credit scores to charge consumers higher interest rates!

The problem is that credit reports are so inaccurate.

Did you know that more than 70% of credit scores contain errors that are lowering consumers scores.

How much is this costing you?

$400,000 Mortgage, 30 Year Fixed
Credit Score APR Monthly Payment
760-850 5.677% $2,316
700-759 5.899% $2,372
660-699 6.183% $2,445
620-659 6.993% $2,659
580-619 9.321% $3,311
500-579 10.276% $3,592

Bad credit vs. Great Credit = $1,200 more in monthly payments.

$50,000 Home Equity Line of Credit, 15 Years
Credit Score APR Monthly payment
740-850 7.779% $471
720-739 8.079% $480
700-719 8.579% $495
670-699 9.354% $518
640-669 10.854% $564
620-639 12.104% $603

$124 more a month when you have decent credit vs. great credit.

$25,000 Auto Loan, 36 months (3 years)
Credit Score APR Monthly payment
720-850 6.185% $763
690-719 7.134% $773
660-689 8.710% $792
620-659 10.542% $813
590-619 13.861% $853
500-589 15.000% $867

If you’d like to know how many errors are on your credit report and how much higher your credit score could be, please click START NOW, call or chat with us now. We are happy to help.

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