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Credit Scores Take a Beating

One of the biggest casualties of this economic crisis may be your credit score.

A new report shows that nearly 25% of all Americans—that’s almost 43 million people—have a credit score lower than 599.

And THAT can end up costing you a bundle. 

It doesn’t take something catastrophic like foreclosure to take a good credit score down.  Missed mortgage payments, late credit card or utility payments, running up your credit card balances to make ends meet...it can all add up to a much lower credit score.

Your credit score is more important than ever in today’s tight credit market.  the difference of only a few points on your credit score can cost you as much as half a percent on a loan.  Doesn’t sound like much until you think of it this way:  over the life of a $100,000 loan that half percentage point could cost you as much as $11,000!

The good news is that no matter what your score, we have simple, proven steps you can take right now that will help boost your credit score.  Get started now…

Read More In: Credit Smarts

Ken and Daria Dolan have hosted their own national radio program for 22 years, anchored their own television shows on CNN, authored six books on money matters, served as money contributors on CBS This Morning and have now launched a comprehensive web site and free e-letter at Dolans.com.


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