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FREE Financial Empowerment Workshop
Get Your Financial Freedom
Join us at the West Cook Homeownership Center’s FREE Financial Empowerment Workshop on Saturday, September 28, at the City Colleges of Chicago, Malcolm X Learning Center, 4624 W. Madison St, Chicago, and learn how to build and maintain your credit.
- Learn how to keep your spending under control
- Learn how to set goals while you build your credit
- Receive a free credit report with free credit counseling
- Join the Home Buyer’s Club
Some of the benefits of having a good credit score include:
- Low-Interest Rates on Credit Cards and Loans – The interest rate is one of the costs you pay for borrowing money and, often, the interest rate you get is directly tied to your credit score. If you have a good credit score, you’ll almost always qualify for the best interest rates, and you’ll pay lower finance charges on credit card balances and loans. The less money you pay in interest, the faster you’ll pay off the debt and the more money you have for other expenses.
- Better Chance for Credit Card and Loan Approval – Borrowers with a poor credit history typically avoid applying for a new credit card or loan because they’ve been turned down previously. Having an excellent credit score doesn’t guarantee approval, because lenders still consider other factors like your income and debt. However, a good credit score increases your chances of being approved for new credit. In other words, you can apply for a loan or credit card with confidence.
- More Negotiating Power – A good credit score gives you leverage to negotiate a lower interest rate on a credit card or a new loan. If you need more bargaining power, you can take advantage of other attractive offers that you’ve received from other companies based on your credit score. However, if you have a low credit score, creditors are unlikely to budge on loan terms, and you won’t have other credit offers or options.
- Better Car Insurance Rates – Your borrowing capacity is based on your income and your credit score. One of the benefits of having a good credit score is that banks are willing to let you borrow more money because you’ve demonstrated that you pay back on time what you’ve borrowed. You may still get approved for some loans with a bad credit score, but the amount will be limited.
Every 4th Saturday. Begins promptly, 8:30 a.m. to 12:30 p.m
The West Cook Homeownership Center is a program of the Oak Park Regional Housing Center.