Consolidating credit card debt affect credit score
Here at Credit Poor, we understand that from time to time, people need a little cash to get them through to the end of the month.
Whether this is just for living expenses, or to pay for something like an unplanned bill or overhead.
If you keep tabs on your finances, chances are you have an idea of where your credit score lies.
Chances are your insurer will use the credit score to determine the insurance rate.
In addition, utility and cell phone providers may be forced to charge you a security deposit due to your bad credit.
To find out where your credit score lies, the easiest way is to check with the credit bureau.
Keep in mind that there is no standard cut-off between good and poor credit score but is your credit score report ranks you below 620, and then you are on the poor credit side.
The high rates are a way for the lender to compensate for the risk of lending to you.