This is a very common question. Every customer wants to know if it is worth improving credit.  It is extremely important and improving your credit will save you thousands!

Credit scores are everything when it comes to financing.  The higher your credit score is the lower the interest rates will likely be.  Take a look at the following examples:

• Your credit score is 560 and you want to buy a house.  You found a house and want a $100,000 loan with a fixed rate and a term of 30 years.  Here is the likely interest rate and payment for a 560 credit score:

Credit Score : 560

Interest Rate : 11%

Payment: $952.32

•Now let’s take a look at the cost of improving your credit with Evolution Credit over a nine month period.  

Set up costs : $99

Total monthly fees : $351 (9 months x $39)

TOTAL COST : $450

After nine months of evolving your credit with Evolution Credit, look at how much you will save from the original monthly payment of 952.32 with these credit scores: 

Credit Score

600

620

680

760

Note Rate

9%

8%

7%

6%

Payment

$804.62

$733.76

$665.30

$599.95

Monthly Savings

$147.70

$218.56

$287.02

$352.37

Total Saved

$53,172.00

$78,681.60

$103,327.20

$126,853.20

It is clear that a few months evolving your credit into something better with Evolution Credit could be a very smart investment.