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Want a $6,000 a Year Raise?
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Increase your credit score and you'll have more money in your pocket. People with bad credit pay more in interest than people with good credit. If you increase your credit score, your interest rates will fall and you'll pay less and less on any debt you may have.

Want a $6,000 a Year Raise?

Wouldn't you want a $6,000 a year raise? It's easy to get just by increasing your credit score. People with bad credit pay more in interest than people with good credit — on average, $500 a month more. As you increase your credit score, your interest rates will fall and you will pay less and less every month on any debt you may have.

Below is an example of how your credit effects your interest payments:

For credit card payments, a bad credit consumer will pay $126.00 monthly, and a good credit consumer will pay $80.00. For the mortgage payment, the bad credit consumer will pay $1,193.50 and the good credit consumer will pay $815.39. The bad credit consumer will pay $550.07 for their auto loan and the good credit consumer will pay $405.64.

This leaves the bad credit consumer paying $1,870.07 and the good credit consumer paying $1,301.03.

The amount saved by the good credit consumer is $569.04. That adds up to a yearly savings of $6,828.48 just for having good credit!

Experian reports that the average financing amount for a car is $23,143. Payment is typically calculated at 15% for the bad credit consumer and 2% for the good credit consumer. The average mortgage is $136,000. Payment is typically calculated at 10% for the bad credit consumer and 6% for the good credit consumer. The average amount of credit card debt is $8,000. Payment is typically calculated at the 19% minimum payment rate for the bad credit consumer and 12% for the good credit consumer.