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| You never realize just how much you need good | | | | Getting a Job |
| credit until you try to use credit and you don't have it. | | | | Good credit is vital to your career. So many potential |
| There are many things you can't do these days unless | | | | employers now check for good credit as part of the |
| you have good credit. That includes things like getting a | | | | hiring process. This is especially true in government and |
| job and even a place to live. Here are some of the | | | | financial positions. Negative information in your credit |
| reasons that good credit is so important. | | | | history could keep you from getting hired. Not only do |
| | | | | employers check for good good credit when they're |
| Buying a House or Renting an Apartment | | | | hiring new employees, they often do credit checks |
| Without good credit, you'll have a hard time finding a | | | | before giving some employees a promotion or a raise. |
| place to live. Of course, mortgage lenders check your | | | | |
| credit before they'll give you a loan to purchase a | | | | For Lower Insurance Rates |
| house. If you don't have a good credit score, you could | | | | If you want the lowest insurance rates, you'll have to |
| end up with a high interest rate loan. Worse, you could | | | | have good credit. Insurance companies now check |
| be denied completely. Even landlords check credit | | | | credit in the underwriting process. They say that |
| before allowing you to sign an apartment lease. | | | | people with poor credit histories have greater chances |
| | | | | of defaulting. So, if you don't have good credit, you'll |
| Once you get a home or apartment, good credit will | | | | likely find yourself with a higher interest rate. |
| come into play when you get utilities turned on in your | | | | |
| name. Most service providers do a credit check | | | | Starting Your Own Business |
| before turning on your electricity, gas, water, cable, and | | | | Thinking about starting your own business? Your credit |
| other services. If you don't have good credit, you will | | | | will be a factor in getting the small business financing |
| likely have to pay a high security deposit before you | | | | you need to get your business up and running. If you |
| can have services turned on in your name. | | | | have bad credit, you may be denied for small business |
| | | | | loans. |
| Buying a Car | | | | |
| Buying a new car requires good credit, too. Auto | | | | You can get around having good credit, but it will make |
| lenders run a credit check before approving an auto | | | | life tougher. Since good credit is required in so many |
| loan application and, like a mortgage loan, you can be | | | | aspects of life, it's better to work in repairing your |
| denied if you don't have good credit. Unfortunately, not | | | | credit than to go without the benefits of having a good |
| having good credit could leave you without the | | | | credit score. |