Growing up my parents did not discuss credit and financial literacy. I’m not sure if it was taboo with their generation. However, I always knew the impact of credit. Because my parents were never homeowners, and always would complain about their interest rate for car loans. They were very vague with their credit advice, and really never gave any explanation or guidance. As an adult, I realized it was due to their parents not educating them on financial literacy.

Once I became an adult, I quickly realized the importance of credit. I received denial letters every time I applied for a credit card. I finally sought out help. Once I was finally approved for a credit card, I received it at a really high-interest rate. When it was time for me to purchase my home, due to working on my credit, I received a really great interest rate on my home loan. However, a lot of times, what people fail to realize is that your credit score changes often, and it is so important to stay on top of your credit and to know when to ask for help.

Shortly after purchasing my home, the engine went out in my car. I was a single mom who worked, and I really didn’t have anywhere to turn. I had to drive my son to school daily because transportation wasn't provided, and of course, I had to go to work. I immediately applied for my first auto loan. I was super scared. However, I knew that I was trying to build my credit again after purchasing my home. I was able to get an amazing loan on my auto loan and purchase my dream car at the time. I never really considered the interest loan on a car until I looked at the total of the vehicle once the loan was paid off.

 

After purchasing my home and car, I returned to school. I had no idea that most people need their parents to cosign on the loan with them. I’ve met so many people who were unable to attend school because they didn’t have credit and their parents had bad credit. As a parent, this was truly an eye-opener for me. Had I not worked on my credit and received help, I would not have been able to attend college and apply for a better paying job.

 

This credit journey has taught me so much. Since maintaining good credit and receiving help. I’ve been able to work on a couple of home goals, and apply for a personal loan to make those dreams a reality! Of course, I have some not so fun stuff around my home that I need to tackle. However, I am ecstatic about getting my dream bathroom that I worked so hard for.

I’ve learned that people fail to talk about knowing when to get help with your credit. It’s never too late. If you don't do it for yourself, do it for your children or family. Below, I’m sharing a few tips that have helped me on the way.

Tips

Check Your Credit Report

• It’s so important to check your credit report periodically throughout the year.

In 2019, Lexington provided over 2 million free credit report consultations.

• Once you check your credit report, have any inaccurate information removed.

Clients of Lexington Law have seen over 56 million negative item removals on their credit reports since Lexington Law was founded in 2004.

Pay on Time

• Pay all of your bills on time.

Keep Track 

• It’s so important and so easy to keep track of your credit. You can easily use a planner to track your credit and bills in addition to important dates in terms of the credit that you need.

Create Goals

• It’s so important to create credit goals, and have a plan for those goals.

Help

• It’s so important to know when to get help no matter where you are on your credit journey.

Sign up to stay on top of your credit with help from the professionals at Lexington Law!

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