THE DANGERS OF BAD

CREDIT RATINGS

By Deborah Koval

A bad credit rating happensto people who often neglectto pay their credit card debton time, or for those whodon’t pay their credit carddebt at all.

This results to a bad creditrating. This bad rating hastremendous effects onpeople. a lot of businessestoday asses people basedon their credit rating.

BAD CREDIT RATING AND ITS EFFECTS

Buying a House/ Getting an Apartment

If you have a good creditrating, the interest ratethat will be given to youwill be lower. Highinterest rate is given tothose who have badcredit ratings.

Landlords, too, checkcredit ratings. It can bedifficult to land on anapartment for those withbad credit ratings.

People with bad credit ratings may find it difficult to secure a financing loan. High interest rates are also expected when you will get a loan grant.

Buying a Car

Insurance

Insurance companies

know that bad credit

ratings are associated with

higher claims. This makes

insurance companies

charge higher premiums to

those who have bad credit

ratings in their records.

Employers also check yourcredit rating.

You might not land on ajob.

If you’re already working,you might not get thatpromotion when youremployer finds out aboutyour bad credit rating.

photo from: www.tipspntalking.com

Jobs and Promotions

About Deborah Koval

Deborah Koval is a financial professional

and a finance blogger who aims to reach

out to people and help them with almost

anything related to finance and good

finance handling. She writes and reaches

out to people about topics like funding the

children’s college education, establishing

wealth through investing, securing the

family estate, and even making plans for a

more comfortable retirement in the future.

She helps people get on track with their

financial goals and make smart choices at

the same time to make their goals

reachable in a realistic period of time.