4 Reasons to Keep Your Credit in Good Shape

A good credit rating isn’t just something to brag about. A solid credit history can provide tangible benefits. Here are four reasons you should keep your credit in good shape.

1. A Solid Credit History Could Help You Land Your Dream Job

According to a survey from the Society for Human Resource Management1, 60% of all employers check credit reports. Sometimes that’s to prevent theft, other times employers just feel that people who are responsible with credit make better employees. Whatever the reason, you don’t want your credit report coming between you and the job of your dreams.

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2. A Solid Credit History Could Help You Land Your Dream Apartment

Credit history not only comes into play for mortgage approval (banks need assurance that you’re not going to default on your loan), but also, in many cases, when you apply to rent an apartment. Landlords may use your credit history to gauge how likely you are to pay, and pay on time.

3. A Solid Credit History Could Help You Obtain Credit When You Need It

Whether you need a loan to buy a car or need to rely on a credit card in a bind, you want access to the most favorable credit products on the market. You may limit your access without a strong credit history.

4. A Solid Credit History Could Help You Lower Your Cost of Living

Your credit history impacts the interest rates on your credit cards, mortgages and personal loans. A solid credit history could mean you will pay less for insurance and less for mobile phone plans.2

The message is clear: There are tangible benefits to having strong credit.

Resources:

1. http://www.creditcards.com/credit-card-news/state-laws-limit-employee-credit-check-1282.php

2. http://www.nerdwallet.com/blog/credit-cards/credit-score/4-ways-good-credit-save-money/

Legal Disclaimer: The articles and information provided herein are for informational purposes only and are not intended as a substitute for professional advice. 

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