You guys know that I’m big on us all finding out the hidden costs to things because those hidden costs can really add up and can break your budget without even realizing it. One of the biggest factors to hidden costs is a low credit score. Having a low credit score can cost you extra money in the form of a deposit you wouldn’t otherwise have to pay, extra fees each month if you’re running late on your payments, and can cost you money in the form of time (because time does equal money for the vast majority of the world) if you’re forced to keep seeking approvals on something that you’re being denied on because of your credit score.
So what can you do? Monitoring your credit score is essential for knowing the areas that need worked on and/or fixed. If you don’t know the starting number, you can’t get it to rise can you? Be very careful though that you don’t fall for some “free trial” scam though and end up costing yourself even more. There’s no need to pay for credit score monitoring. Using a site like Credit Sesame takes care of the monitoring and doesn’t cost you a dime. You do have to give your social security number (so they can pull your credit report and score) but there is NO credit card required. They never charge you.
I use it personally and have for months and I’ve never paid a dime or had any other issues.. Each month, my score updates (hopefully it goes up) and they shoot me an email to let me know that it has updated. (Yes, it was getting Aug’s email that kicked up the idea for this post)
As a result of using a program like Credit Sesame’s free credit score monitoring, I’ve been able to not only raise my credit score a considerable amount but I was also to avoid paying a $200.00 deposit on my electric because my score was higher. I don’t know about you, but $200.00 isn’t chump change for me and it was well used elsewhere in our lives.