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Everyone says your credit score is one of the most important numbers in your life. It ultimately determines how much you're worth and much the banks are willing to lend you with the good faith that you will pay it all back. We preach the importance of having good credit, not just for our sake, but for your sake as well. Having good credit can open up a lot of doors, and having bad credit can close doors. But you already know that if you have good credit, you have easier access to low-interest credit cards and home, car, and student loans.

A lot of companies and agencies actually check your credit score before approving you for certain services or before telling you the final price for your item. Here are some places where your credit score plays a huge impact.

When Looking For:


Insurance companies use your credit score to determine your insurance premium as well as to assess your risks and set other rates. There is a stigma around bad credit users. The stigma is that these consumers are more likely to neglect or destroy their property, such as in fire or by force, in order to avoid paying home or car insurance. The better your credit, the lower your insurance premiums usually are.

A Job:

When looking for a job, your credit score can play a factor, especially when working on Wall Street or in the finance sector. In those finance circles, it's required that you have a credit score of 750 and above in order to gain employment. Other employers review your credit score in order to determine how trustworthy you are. If you are employed by a place that works with a lot of money, such as at a bank, your credit score will be checked, and a low score could mean no job for you.


If you have bad credit, you will be more than likely asked to pay a security deposit when signing up for new cable or telephone accounts. Good credit consumers can save hundreds of dollars when signing up for these accounts, simply based on their credit score.

An Apartment:

Some apartment buildings check tenants credit score prior to moving in. A good credit score means that you will be more likely to pay the rent on time. Credit scores remove all inklings of race and age; landlords feel comfortable using your credit score to determine your trustworthiness and your ability to pay the rent on time.

Not only are the banks checking for your credit score. If you have been paying high rates when it comes to insurance premiums, rent and utilities, and have been finding trouble when looking for a job, then it could be due to your bad credit score. Make a commitment today to correct your credit score.