Good Credit Is a Necessity for Everyday Living

Most of us want a good credit report to obtain vehicle financing, credit cards for emergencies and luxuries, and to finance a home mortgage. However, beyond these consumer loans, a great credit report makes your life easier.

Having a credit card means that you can order tickets, rent a car, and reserve hotel rooms. Your strong credit score makes it easy for you to arrange cell phone service and necessary utility services, without large deposits.

Besides these conveniences, your credit report can mean that you must pay higher deposits and rates for everyday services. Did you know that poor credit history can keep you from getting utility connections, good telephone rates, the best auto insurance, high-quality home owner's insurance, or even prevent you from getting hired?

Some utility companies set minimum standards for service connections. If your report shows collection accounts for prior utility bills, you may not be eligible for service at all. And if they do agree to connect your service, you'll need to pay a higher deposit than another customer with good credit, who may not need to make any deposit. The same requirements exist for telephone services. People with high credit scores don't need to pay deposits for home telephone or cell phone services.

What many people don't realize is that good credit enables them to get better insurance rates. High-quality, low-cost home owner's insurance, auto, and life insurance companies set minimum credit standards for their policy holders. This means that consumers with poor credit have to pay more for less coverage. Many automobile insurance companies now base monthly premiums on credit scores. These companies offer a 17% discount if your score is over 625 and a 25% discount if your score is over 725. Why? Because according to consumer surveys, people who care about their credit also take care of their property and drive with caution.

Terrible credit can cost you a job. More and more employers look at a candidate's credit report and hire the person with better credit, assuming that better credit equals better integrity and character.

What you don't know about your credit could be hurting you. Don't wait until you need your credit to work on any problems. Strong credit translates to personal reputation.

(c) Copyright 2005 Jeanette J. Fisher. All rights reserved.

Jeanette Fisher, author of "Credit Help! Get the Credit You Need to Buy Real Estate," helps people buy their dream home or finance multiple investment properties. Jeanette teaches real estate investing and Design Psychology. For help with your credit or answers to your questions, visit the Real Estate Help Credit Center at http://www.recredithelp.com - Get the credit you need to buy one house or twenty!

Subscribe to Credit Help! Tips. Send a blank email to CreditTips at recredithelp.com

In The News:


pen paper and inkwell


cat break through


Some Truth About Credit

Credit is currently and has been historically an integral component... Read More

Convenience Can Be Costly

You've just opened your credit card bill and attached to... Read More

Credit Counseling -- Why It Doesnt Work For Most Debtors

"Cut Your Payments in Half!" the headline screams. "Consolidate Your... Read More

How Your Credit Rating Affects You, and How to Check It

You might not know it, but every time you take... Read More

SuperCharged Secret 1 of 5 - Credit Card Utopia

I AM THE CONSUMER. AND I HAVE LOW-RATE SUPER-POWERS!Note: The... Read More

Credit Card Security Advice

Which of the following is the biggest threat to your... Read More

Learn About Prepaid Credit Card

Prepaid credit cards also called stored value card can be... Read More

Avoiding College Credit Card Traps

Congratulations college freshman! You're about to embark on one of... Read More

Understanding the Function of Credit

What is Credit?Credit is the backbone and the engine behind... Read More

What Does Your Credit Say About You?

A credit report is more than just a snapshot of... Read More

How Credit Scoring Works

The all important credit score! It determines the amount of... Read More

10 Simple Steps to Manage Your Credit

By far the greatest invention the banks have ever come... Read More

Credit Reports ? Why Your Credit Score is Important

If you have never heard of a FICO score before,... Read More

Bankruptcy Myths Busted

The average American knows very little about bankruptcy. Most people... Read More

Give Yourself Credit

The Beginning of the Credit Card EraIn 1951, Diners Club... Read More

Credit Card Is Adding The Silver Lining To Your Pocket

In the new millennium plastic money or credit cards has... Read More

5 Killer Steps to avoid Credit Card SCAMS!

In August, 2004, the Federal Trade Commission issued their findings... Read More

Why Americans Find Predatory Lending Offensive

"Menis - the author translates as "indignant rage" - It... Read More

How Can A Qualified Mortgage Consultant Help Boost Your Credit Scores?

Consumers interested in purchasing or refinancing a home will pay... Read More

Credit Help for Real Estate Financing: Credit Scores

When you buy real estate, lenders run all of the... Read More

The Top 5 Secrets to Managing Your Credit Cards?So They Won?t Manage You

You've probably never heard of Frank X. McNamara, but he... Read More

What Should I Do If I?ve Become a Victim of Identity Theft?

Identity thieves take advantage of everyday opportunities to discover your... Read More

Applying for Credit Cards Online

In the olden days, about 10 years ago, before the... Read More

Tips for Credit Card Surfers

Moving money from credit card to credit card to take... Read More

What Is A Credit Report?

Even if you have heard of a credit report, you... Read More

Choosing the Best Low Interest Credit Card

With so many low interest credit cards on offer, how... Read More

Commercial Collections: Business Finance Booster Shot

Commercial collections: fixture of the new B2B cultureIf you're in... Read More

Why Credit Cards are a Bad Idea

Credit cards are just so convenient, aren't they? There's no... Read More

Credit Verus Debt

Secured and unsecured debt - what's the difference?It's easy to... Read More

Your Guide On Choosing a Credit Card To Suit You

Reach into your wallet or purse, pull out a card,... Read More

What You Need to Know About Interest Rates

For all people shop around for the best rate, there... Read More

Learning the Disturbing Facts about Credit Card Debt

When I received my first credit card in the mail... Read More

Big Brother Knows Whats in Your Credit Report - How About You?

Whether you are aware of it or not, credit bureaus... Read More