bad-credit-vs-good-credit

Bad Credit: Not a Good Problem to Have

Maxing out your credit card, hopping from one card to the next when you haven’t even paid your mortgage yet—you might think it doesn’t happen very often, but it surely does.

According to USA Today, on average Americans owe creditors between $8,000 to $9,000.

If you think having poor credit isn’t too big of a problem, you have another thing coming!

How Bad Credit Impacts Your Life

· Higher Insurance Premiums

Insurance companies conduct background checks on your credit score before signing that dotted line. This means that if you have a poor credit history, guess what?  You will likely be subject to higher than average insurance premiums.

· You’ll Be More Likely To Not Get That Job

Frustrating as that may be, it does make sense. Potential employers have certain hiring criteria to meet—your credit history included.

You will have an even tougher time landing a job if you’ve applied in the financial sector or in upper management tier. Why not save yourself the embarrassment of watching your peers get selected instead of you by building good credit?

· Your Dream Of Being a Successful Entrepreneur Might Just Remain a Dream

In addition to having difficulty finding a decent job, people with below-par credit scores find it a lot harder to start their own business. The reason is straightforward, actually.

A commercial bank or lender is definitely going to check up on your business credit history—if you don’t have one yet then your personal credit score will be analyzed.

In a nutshell, even if your business idea could revolutionize the world, with a poor credit score, it won’t take off the ground.

· Difficulty In Getting Approval For An Apartment

This shouldn’t come as a surprise, really. Landlords have the right to review their potential tenants’ credit history to evaluate if they’ll be a financial risk or not.

Those with poor credit are seen as more likely to lag behind in their monthly payments and so are not the ideal choice for tenants.

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With such extensive side-effects of having bad credit, why not make some changes? Seek professional help to ensure that your credit score soars!

KeyPoint is a certified credit repair company based in Fremont, CA. Our services are available nationwide and include but are not limited to: full-service credit repair, business credit building services, identity theft restoration, early warnings removal and more.

If you are interested, reach out to us!