Top Three Reasons to Repair Your Credit Score Today

The number one way in which you can boost your credit score is to pay your bills on time, but there are numerous other ways to bump up your score as well, such as keeping your credit card balances low, checking for credit report errors, refraining from opening multiple credit cards at once, and avoiding bankruptcy.

Chloe Mulliner is a writer and editor for www.CreditSources.org, a credit related website that provides loan options for people with poor or no credit.

You’ve probably heard that a bad credit score could cause limitations when you apply for a credit card or take out a mortgage, but did you have any idea that it could be the reason why your dreamy blind date doesn’t ask for a second date? Or how about the fact that you could be paying higher insurance premiums just because of the low number on your credit score?

If this is all news to you, it’s worth checking out the following three reasons why it’s a good idea to build good, if not excellent, credit.

A Good Credit Score Could Lead to a Second Date

Credit scores are becoming a huge make it or break it factor in the dating world. So important in fact, some daters turn to online dating websites to find compatible matches with similar credit report values. These people in search of love have begun putting more emphasis on each other’s personal credit scores than the more traditional aspects such as religious or political views.

Finding a soulmate is difficult enough before involving your credit score, so why not focus on building your credit so you can worry less about your score and more about making a love connection?

A Good Credit Score Could Mean Lower Insurance Rates

A high credit score won’t only help you receive low insurance rates when you’re buying a house, but it could also benefit your auto insurance rates as well.

When it comes to auto insurance, the Insurance Information Institute found that consumers with low credit scores file 40 perfect more claims than those who have high credit scores. Because of this, those who have poor credit sometimes end up paying higher insurance premiums. Conversely, those who have good and excellent credit scores generally receive more favorable and lower premiums.

Long story short, build and maintain good credit, and in response, insurance companies will reward you.

A Good Credit Score Could Land You Your Dream Rental

Have you found your dream rental apartment overlooking the beach? Or have you stumbled across a quaint little country house looking for a suitable renter? Whether you’ve found your ideal rental property, or you’re still in the market, we hope you have good credit!

Good credit will come in handy if your landlords asks for your credit report to see your payment history. If you have a tendency to miss payments, the landlord might not want to approve your application for your dream rental.

Best way to receive those house keys? Work on building your credit or ask if the landlord will accept proof of other payment history such as your utilities bills.

The number one way in which you can boost your credit score is to pay your bills on time, but there are numerous other ways to bump up your score as well, such as keeping your credit card balances low, checking for credit report errors, refraining from opening multiple credit cards at once, and avoiding bankruptcy.

Chloe Mulliner is a writer and editor for www.creditsources.org, a credit related website that provides loan options and information for people with poor or no credit.

One Response to “Top Three Reasons to Repair Your Credit Score Today”

  1. Rich Uncle EL May 1, 2013 at 2:10 pm #

    A good credit score is important to save on thousands of dollars in interest fees. IF your score is above 700 you will get preferred interest rates when the time comes that you may need to borrow money for a mortgage.