This post is sponsored by Lexington Law but the content and opinions expressed here are my own
Did you ever contemplate your credit while growing up? Did you consider the harm you could be doing your credit during those college years when you applied for those credit cards you thought were necessary for survival? I never once gave it a second thought. It wasn’t until I was thinking about applying for a car loan that it all came crashing down. My credit was not where I wanted it to be starting out life as an adult. Even more so when it came to raising a family.
Card and credit on the line.
Growing up I never truly thought about the importance of credit. I started working part-time in high school as a lifeguard. I saved my money as necessary, but found myself spending it on going to the movies, makeup and other things a high school girl thinks she needs. I continued to work part-time in college. With having to pay for rent, groceries, school supplies, and extracurricular things, I applied for a credit card. I didn’t consider how credit cards can hurt your credit down the road if they aren’t used responsibly.
I made sure to pay the note every month, but never once did I completely clear my card balance. I was still paying it every month. That is good enough, right? Wrong. It wasn’t until finishing my college career that I learned the real importance of credit.
The Importance of Credit and Credit Repair.
What exactly is credit? Credit is the borrowing of money you need to make purchases. When you are borrowing money through credit, you are normally agreeing to pay back the lender the amount you borrowed/spent, plus interest. Then there is your credit report which is a compilation of all the loans reported to a credit bureau, that you currently have or have had in the past.Thus a summary of all those credit lines. So what is the big deal of credit and your credit report?
I asked myself this same thing when it came to applying for a car loan. I learned real quick that lenders were going to base my approval of a loan on whether or not my credit report was good or not. They aren’t going to want to lend money to someone who appears to borrow a lot of money and never successfully pay it all off. Go back to my college days of only paying the minimum payment on those credit cards. No good for this girl’s credit report. Remember that car loan I mentioned earlier? I was unable to apply without a co-signer due to my credit. Now enter in Lexington Law to help me repair that credit for future purchases.
Lexington Law to kickstart your credit repair efforts.
Lexington Law is a consumer advocacy law firm with over a decade of experience helping hundreds of thousands of Americans take steps to improve their credit. According to BadCredit.org, Lexington Law is a #1 ranked credit repair company that provides free credit consultations and credit repair assistance.
Credit Repair.
What exactly is credit repair? Credit repair is the process of identifying and addressing unfair, inaccurate or unsubstantiated negative items on a consumer’s credit report. With Lexington Law’s proven process, they have helped hundreds of thousands of people work to repair their credit every year. This is all done by analyzing the consumer’s credit report, addressing the issues at hand by challenging the issues with the bureaus and their creditors monthly, and accelerating by keeping the process going to help their clients reach their credit goals.
The skilled team of certified lawyers and paralegals at Lexington Law will leverage the law for your credit!
Easy to put family first when you have Lexington Law.
The last thing you want to worry about when starting a family is your credit report. You want to be financially stable and able to provide for without doubts and worry. I am thankful to have gotten my credit straight before having kids. My husband and I were able to purchase a home and own our vehicles. We know that if anything were to happen unplanned, we have the available credit for emergency purposes.
Knowing what I know now, I will be teaching my kids the importance of money and credit. It is never too early to teach your children financial responsibilities. If you have any doubts, concerns, or questions in regard to your credit, let the staff at Lexington Law help. They offer so much knowledge at your fingertips Remember, your credit is not written in stone!
Fortunately, I have great credit but it has taken a lot of work. It’s such an important thing to teach our kids too, so kudos to you for teaching them young! We have put our 9-year-old son on our credit card too to get him started on the right path. (He doesn’t know this though – so shh, don’t tell him :D)
This is great and something to definitely check out. Credit is such a tricky thing sometimes.
I think all highschool and college age kids should read this!! Great tips and advice.
Good Credit is so important. I’m glad that I finally got serious about mine and raised my score tremendously.
This is so important for families everywhere. Good credit is key, for so many aspects in life!