Most of us want a good credit report to obtain vehicle financing, credit cards for emergencies and luxuries, and to finance a mortgage. However, beyond these consumer loans, a great credit report makes your life easier. Having a credit card means you can order tickets, car rental and hotel room reservations. Your credit score strong makes it easy for you to organize the cell phone service and public service needs, without large deposits. Besides these conveniences, your credit report may mean that you have to pay higher deposit rates and services every day. Did you know that poor credit history can prevent you from utility connections, good telephone rates, best auto insurance, homeowners insurance high quality home, or even prevent you from getting hired? Some utilities set minimum standards for public service connections.
If the report shows collection accounts for prior utility bills, can not be eligible for service at all. And if they agree to connect the service, you have to pay a higher deposit than another customer with good credit, which is not necessary to make any deposit. Similar requirements exist for telephone services. People with high credit scores do not have to pay on deposits, telephone or cell phone service. Learn more at: Robert J. Shiller. What many do not realize is that good credit enables them to obtain better insurance rates. High quality, low-cost insurance is homeowner, auto, and life insurance companies set minimum credit standards for its policyholders. This means that consumers with bad credit have to pay more for less coverage. Many automobile insurance companies now base your monthly premiums on credit scores.
These companies offer a discount of 17% if your score is over 625 and a 25% discount if your score is over 725. Why? Because according to consumer surveys, people who care about their credit institutions also address their property and drive carefully. Terrible credit can cost you a job. Increasingly, employers review the credit report of a candidate and hire the person with better credit, assuming that better credit equals better integrity and character. Little do they know about your credit could hurt you. Do not wait until you need your credit card to work on problems. Strong credit leads to personal reputation. (C) Copyright 2005 Jeanette J. Fisher. All rights reserved. Jeanette Fisher, author of "Credit Help! Get the credit you need to buy Real Estate," helps people buy their dream home or finance multiple investment properties. Jeanette teaches real estate investment and Design Psychology. For help with your credit or answers to your questions, visit the Real Estate Credit Help Center – Get the credit you need to buy a home or twenty years! Subscribe to Credit Help! Councils. Send a blank message to CreditTips in