Jeffrey Strain
Housing: Many apartment managers will run a credit check on prospective tenants. If your credit is poor, you may be denied a unit due to the risk that you may not be able to pay.
Deposits: If you have poor credit, you may need to leave a deposit -- or a larger deposit -- with certain companies than you would if you had good credit. Utility and cellular phone companies sometimes ask for deposits with people that have less-than-stellar credit. Health: In addition to all the financial aspects where poor credit will hurt you, it could also adversely affect your health. It's not difficult to imagine that a person who has to pay a couple of hundred thousand dollars more for the same house as a neighbor down the street could have some financial stress in their life. This stress can affect a person both mentally and physically, if the poor credit is constantly a source of fighting in the house. Poor credit is no longer a situation that can be isolated from other areas of your life. The trend is only growing stronger. Take the time to make the effort to keep your credit in good standing. It will pay off with more money in your pocket and less stress in your life.
Get your personal finances in order with the help of TheStreet.com's New Calculators.
RSS
