A poor credit score can cost you a lot

ATLANTA - We talk a lot about how a good credit score can save you money. But now let's switch gears and talk about what three things a poor credit score can cost you. 

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Bad credit can cost you these three things: 

1. Apartment
2. Insurance
3. Job

Not all potential employers will check your creditworthiness, but some will especially if you are going to handle or manage money. They want to know that you can do that. They don’t check your actual score but rather a summary of your history. If a potential employer saw your details today, would you get hired?

Your credit score will be checked by a potential landlord. That person also needs to know how you manage money. If all things are equal and your credit score is better than another person’s, you’re more likely to get that apartment or rental home. This is a competitive rental market. You need all the help you can get.

And finally, car insurance. You can still be insured with bad credit. But, according to Lending Tree, you could pay 61% more than someone with average credit. ouch.

So those are just three things bad credit can cost you. If you have low credit, make a point to try to get it up to the ‘fair’ range.

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