Do You Have Bad Credit? Poor credit history, commonly referred to as bad credit, may affect almost every available opportunity outside of your home: whether or not you receive a store credit card, an apartment and even the job you want. Do not miss any more opportunities because of your bad credit. Call one of our debt consultants today to find out how to repair your bad credit quickly. For more information Call 1-800-615-4039.
Renting
Bad credit can diminish your choices in the rental market, but in cities where landlords can pick and choose their tenants, even having no credit history can prove inconvenient. To rental companies, an applicant with no credit history just isn't worth the risk
Employent
The Society for Human Resource Management reports that 96 percent of companies do background checks. Keeping your financial record clean could mean the difference between getting hired and not. Not surprisingly, credit checks are more common at banks and the like, but there is no one standard for checking histories among different industries. While one defaulted payment isn't likely to raise red flags, a history of irresponsibility may, especially because most companies are screening applicants for productivity problems caused by major debt or for the likelihood of theft.
Insurance
Insurers routinely base their premium rates on credit histories. Whether it's for car, health, or homeowner's insurance, these companies hold fast to their belief that credit is the best predictor of whether someone will file a claim in the future. For car insurance, for instance, 82 percent of insurers use credit when deciding to accept applications for coverage, according to a 2004 report by the Texas Department of Insurance, and when determining rates, they often rely on credit scores even more than the applicant's driving history. Good credit can equal significant cost savings when it comes to insurance.
Cellphone and utility companies
Bad credit often leads to trouble when applying for even the most basic of services. If your report shows a habit of defaulting on payments, some providers from gas and electric to cellphones will deny you service outright. And if they do accept your application, you'll probably be forced to pay a significant deposit, find a cosigner, or pay higher rates. Not all utilities and phone companies check credit, but it doesn't hurt to ask if they do.
