Apollo Beach, FL (PRWEB) August 21, 2013
It’s obvious that having good credit means better loan options. What’s less obvious, though is all the other ways you might not know about that are impacted by your credit.
According to a report by the Consumer Financial Protection Bureau, things like insurance premiums, rental opportunities and even your utility bills can be impacted by your credit score. Insurance rates are calculated in their own ways, but are heavily tied into your credit. The same goes for rental applications, and even telecommunications companies are known to determine your deposit (or lack thereof) by the credit information they pull.
These surprises aren’t limited to expenses, however. Banks will pull your credit information before allowing you to open any kind of account with them. Perhaps most surprising though, is that in some states credit can play a part for employers looking at new hires. A survey from the Society for Human Resource Management indicates that nearly 60% of its member employers pull credit reports for potential new hires. Moreover, another recent survey by Demos tells us that even some entry-level applicants are subject to credit screenings.
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