I Bet You Didn’t Know This About Credit! (Credit Fact #17, Page 22)
Some savvy consumers think that they will save money by transferring their credit card debt to the card with the lowest interest rate. You would probably be surprised to hear that TRANSFERRING BALANCES MIGHT COST YOU MORE MONEY THAN YOU SAVE.”
How does it cost you?
If you transfer all your debt to the one credit card with the lowest interest rate, you are increasing your utilization rate (the debt that you carry in proportion to the limit) on your credit card. This will cause your credit score to drop. A lower score translates into higher interest rate on future loans or credit cards – less money in your pockets.
For 37 more important credit facts — Download my FREE Book “38 Facts I Bet You Didn’t Know About Credit at www.720GO.com.
About
I Bet you Didn’t Know About Credit is just one of the learning tools Phil has integrated into his 7 STEPS TO A 720® CREDIT SCORE Credit Management System.
Tired of seeing people with good intentions being consistently denied home loans, Philip created the 720® CREDIT SCORE Credit Management System specifically to increase Credit Literacy and help every American improve his or her credit score. He felt that it was intolerable that people, who did qualify for loans often paid ridiculously high interest rates. For example, a borrower with poor credit could pay over $200,000 on a $300,000 home loan over the space of 30 years.
His 7 STEPS TO A 720® CREDIT SCORE exposes the rules of the credit game, allowing countless Americans to increase their credit scores and save hundreds, sometimes thousands of dollars in interest payments every month – That means more money for a better lifestyle!
7 STEPS TO A 720® CREDIT SCORE promotes Credit Literacy, Credit-Improvement, Credit Excellence and Credit Management for a lifetime – no matter the economic times.
It’s based on patterns of change identified through studying tens of thousands of credit reports. Available to the public – it is also used by investment advisors, real estate agents, mortgage brokers, and accountants across the nation to help borrowers qualify for the best loans, and reduce interest payments – and save money.
For additional information, visit www.7StepsTo720.com. Or call 877.720.SCORE.
Philip X. Tirone’s, book “7 Steps to a 720 Credit Score: Strategies for Excellent Credit” as well as Applying the 7 Steps to a 720 Credit Score Workbook”, containing samples of the forms, letters and worksheets are both included in his 7 Steps to 720 Credit Score Kit. The kit is available at www.720score.com or by calling 1-888-254-2702.
