Actually, I meant to say is that bad credit will cost you a lot!! Detective Frank Money here and bad credit forces me to hold on to my hat before hot steam blows it clear off my head. It makes me mad because I can’t save you money if you let your credit score drop like a rock.
Being late with a loan payment like your mortgage will ruin your FICO score that took years to build up. Top score for FICO is 850. Anything below 700 and you’ll be paying extra for certain purchases such as a car with higher monthly interest rates. It’s always a good thing to check your credit report to see if it’s accurate. You can contest it if you think something is wrong.
Take the time to understand your credit score and where the number comes from. Taking smart steps can bring your numbers up and save you money.