I recently became a member for Financial Education Services. I did so for two reasons. One being is I wanted to get my credit score up to 830 and second I love learning new stuff, so I wanted to share what I learned about credit here on Spark Nation. Being an entrepreneur your credit sometimes take a big hit. I know mine did, so now I am in the rebuilding stages. I haven't paid much attention my credit in a while because I've been busy running my business. When I started my businesses I financed with credit cards. I would rebuild my credit, but when the business got into a cash crunch I would pull out the credit cards again. Thank God the business is no longer in a cash crunch where I need to pull out the credit cards. Now it's time to rebuild it strong again and that's why I joined FES.
So I was in my back office adding my information to my credit profile and I opened up a window that showed you how lenders rate you when it's time for you to purchase a house, car or to get credit cards. When looking at the picture of how the lenders do their ratings it all made sense. I am sharing this little rate card with you so that when you decide to purchase a home, new car or open up another credit card you will know upfront what type of interest rate you are going to be looking at. Man I wish I had known this before, but it's good that I know it now because we will be building our new home, so knowing how the credit system work and how the lenders set their interest rate will definitely give us more negotiating room.
One other great benefit is that having a strong personal credit will allow me to start building my business credit and if and I hope this is a big if I ever need to pull out the credit cards they will not be against my personal credit, but cards for my business credit. Over the next couple of weeks I will be providing you more information about credit as I learn.
Until Next Time
Make It A Great Day!
Talk Business With Audrey is where I talk about business on a daily basis and is a weekly talk show. I interview people who are innovators and game changers in the business. The show is also syndicated across HerTube Media Network.