Whether you like it or not your individual credit score can have a huge impact on your life. The information contained in your credit report is used by a wide variety of companies as a type of background check. Your FICO score gives companies an indication of your credit and trust worthiness; by how likely you are to make payments on time. Here are just a few items that may be affected by your credit score:
- Heath Insurance
- Auto Insurance
- Apartment Rentals
- Bank Account
In many cases, your good credit or bad credit may not stop you from getting the products or services listed above, but your credit score may effect how much they cost. If you are trying to save money, your credit score is a great place to start. Many times a high FICO score on your credit report can get you preferred rates, lower interest or even a leg up in a job hunt.
That is why CreditSoup provides Credit Tips to give you valuable information on how to improve and protect your credit rating.
Editorial Disclaimer: Information in these articles is brought to you by CreditSoup. Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles. The information is accurate to the best of our knowledge when posted; however, all credit card information is presented without warranty. Please check the issuer’s website for the most current information.