E02: Talking Credit Restoration and Dispelling Credit Myths with Dr. Arnold Bogerty

Is your credit score costing you?  In this podcast, Nicole Saunches and Arnold Bogerty discuss credit, the make-up of your credit score and dispel some credit myths.  Did you know the rates you pay for insurance are based on your credit score?  As are the rates you pay on interest-bearing loans.  If your FICO score is less than a 750, you are paying higher interest rates and sometimes overpaying significantly.

Also - do you know your credit score changes based on the inquiry.  Consumers have different scores for car loans, mortgages, consumer credit, insurance, etc.  And - it's important to know the difference between your vantage score (what many consumer credit reporting companies such as Credit Karma and Check My Score provide to consumers) and your FICO score (what most institutions weigh more heavily when determining your loan eligibility and interest rate).  In some cases, the vantage score and FICO score can vary more than 100 points!

This podcast is full of valuable information for anyone with an interest-bearing loan or looking to access capital.

If you are looking for ways to eliminate debt, one of the best tools I have come across is the Debt Shredder.  Debt Shredder is a navigation system for your finances.  It tells you the shortest, most effective way to get to your financial destination.   It is a web-based program that uses the same financial strategies that banks use.  Essentially, it teaches you how to bank like a bank.

For more information on Debt Shredder, please visit: www.shreddebtbuildwealth.com or call 727-282-4335 for a free, no obligation savings analysis to see how much Debt Shredder can save you.

A wise person once said, "Those who don't understand interest are doomed to pay it.  And, those who do are destined to earn it."