Credit Checks & Cell Phones, Grad School, Vacation Rentals, Military Service & More...
You already know that even if you do get approved for a credit line, your credit score will determine whether or not you are charged a reasonable or disagreeable interest rate. Putting aside credit cards and mortgages, did you know your credit score can make or break other personal goals? Credit checks are performed when applying for: medical school, job interviews, cell phones, military service, vacation rentals and more.
Job Applications
Your credit history is pulled by employers. They can see everything and while they are only suppose to use it to verify your identity the reality is: whenever your credit report and credit score is looked at you are being judged.
Cell Phones
Reputable cell phone carriers will perform a credit check before they approve you for service. Everyone has a cell phone these days, if your credit shows a history of unpaid utility bills you could be rejected or forced to put a security deposit down in order to be granted a cell phone contract.
Military Service
Upon joining military programs, credit checks are performed before a spot is reserved for boot camp. For example; if you want to join the coast guard your debt must be less then 30% of what your paid salary would be if you make it to the coast guard and you must not be delinquent on any credit lines.
Medical School
When applying to Medical School programs, most institutions perform a credit check to see if you are capable of getting approved for a loan. If your credit is terrible and it is evident you will be relying on loans to pay for med. school they may reject you and leave the admission spot open for someone else. They also are looking to see if you are responsible, follow through and have a strong work ethic.
Vacation
Everyone knows you can’t get an apartment lease with bad credit (unless you have a large savings account and a job or a co-signer). Did you know you can’t even rent a beach house for a week with bad credit or qualify for a time share? Any rental agreement involving property or automobiles is determined by a credit check.
Homeowners Insurance
You finally are a homeowner! You have been approved and moved in. Now you need homeowners insurance and your credit stress begins again. Just because you own property doesn’t mean you will qualify for the homeowners insurance plan you want.
Life Insurance
Life insurance companies will look at your credit report and analyze your financial history before approving you for a policy. They are determining what you can afford.
The list goes on and on! Anyone can benefit from our free credit repair consult. See what items could be removed and what your score will be with an updated, accurate and useful credit report.
- Understanding Credit:
