|
Who Looks at Your Credit Report?
03 03 06  18  23
-------- It is more than just banks.
 A Credit Report is more than just a tool for banks. A credit report and its associated FICO score (credit score) is being used for more than approving you loaning you money. In addition to the traditional uses of a credit report and score like:
Car loans, House Mortgages, Personal Loans, and Credit Cards, other entities are pulling out your credit report.
Here is a list of other entities that may be pulling out your credit report:
- A potential landlord – He/She wants to know if you will make your rent payments on time. We do look at potential tenant’s credit reports.
- Your insurance agent – Responsible and cautious behavior reduces the chance of an accident. Positive behavior is also reflected in your credit report – at least according the actuaries of insurance agencies. Allstate is an example of an insurance company who uses credit reports.
- A potential employer – If you aren’t careful with your finances or responsible with yourself, how can they trust you to be responsible at work and to take care of the company interests – at least that’s what some employers think. More on this topic: Liz Pulliam Weston of MSN Money.
Credit reports are being used by increasing types of people you deal with. A person who pays their debts on time and that don’t over commit to financial obligations that are not safe or realistic for them is more trustworthy than others. A person who pays debts on time keeps a promise: their signature or word is worth a lot. A person who doesn’t over commit is more likely to accomplish something on time and correctly.
Take care of your credit. Pay your bills on time, and don’t over commit. It is more than just the ability of getting a loan. Your credit report and your credit score is a reflection of How much your word / signature is worth..
Important Links:
If you have another link of interest, or a posting on credit that you want included, please, leave a comment. |
