Just one small slip up, one wrong application for finance or one missed payment means anyone can be stuck with a low credit score.
Paying drastically higher interest rates or worse still, getting declined for finance no matter where they apply.
Every week we speak with thousands of people and they all tell us the same thing...
"If I had known this was going to be such a big problem, I would have been more careful"
So people with low credit scores have a choice to make...
Do they give up on getting finance for the next 5 - 7 years
OR
Do they go to a modern day loan shark and pay a drastically high interest rate so they don't have to wait?
Here's the thing, the lower someone's credit scores, the higher the interest rate they will pay... that's if they get approved for finance at all.
Paying an interest rate of just 2% more on a $500,000 home loan over 30 years means a whopping $196,000 in extra interest payments.
That's almost the same as a brand new Lamborghini!
But it doesn't have to be this way, there is another option.
Here's what we tell people who want to improve their credit score so they can get a loan approved fast....
The way to improve anyone's credit score is to remove, amend and rectify the information on their credit report.