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3 Reasons You May Want To Keep Your Credit In Order

One of the most important factors in financial stability is credit. Not every financial guru will agree with the notion, but if you want to ensure that you are not dealing with a lot of stumbling blocks in your future, you need to establish credit and maintain it well. There are several reasons why you may want to keep your credit in good order, especially if you have aspirations for the future. If you don’t cultivate this well, you could end up with a diminished return on your overall investments. The following are just some of the reasons why you will want to think twice about making credit mistakes.

Getting Financing (Car, Boat, Home)

For those that are thinking about purchasing a new or even used vehicle, or perhaps a home, the costs can be outrageous. Not everyone has several thousand dollars lying around, so financing becomes the next option. The first thing that you will find out about dealerships, however, is that they are meticulous at running credit. If they don’t deem that you’re “worthy” of repaying a loan, they will not offer you a vehicle. That’s a worst case scenario. They may offer you a loan but at a rate that is elevated towards 30% APR and in some cases ask for a higher down payment and higher monthly payments.

Getting A Job

The dream job that you have may be derailed by your credit. A lot of companies today are checking credit histories to ensure that their employees are reliable, financially responsible, and showcase a certain level of commitment to working within certain industries. This is not just for stock brokers, as computer programmers are facing this type of scrutiny on a regular basis. Furthermore, some jobs require a reliable car, and more to even land the position, making the aforementioned point even more crucial here.

Renting An Apartment

Getting away from your parent’s home and going out on your own is a great thing. However, if you don’t have good credit, renting an apartment becomes a nightmare. Stories proliferate the online marketplaces with landlords asking for triple if not quadruple the rent up front, and an additional deposit to rent. In some instances, even a certified check, good employment history, and letters of recommendation will not get you an apartment. Credit matters, and making sure yours is in order comes into the light with this and the aforementioned elements for sure.

Written by:
Brandon C Varn
President Accurate Credit Bureau
Fax: (512) 285 – 6336