Good credit vs. bad credit has been a topic of discussion for a long time. While before it may have been a ‘either you care or you don’t’ matter – today it is a topic that can seriously impact your life in more ways than one.
How Good Credit Versus Bad Credit Can Impact Your Life
Getting a Home or Apartment:
Yes, credit matters when you are searching for a home. A 2017 survey conducting by leasing search RentCafe showed that the average credit score of approved applicants was 650. The rejected ones? The average was around 538. And this was for basic to medium apartments. Higher end apartments moved the average up to nearly 700. A good credit score versus a bad credit score can mean outright rejection or a higher rent than normal.
Getting a Loan for a Car or for Personal Use: 
How does a good credit score versus a bad credit score affect acquiring a loan? It’s simple. The better the credit, the lower the interest rate. The worse the credit score, the worse the interest rate. Also, credit score will determine what amount they’ll let you borrow. Ultimately, receiving less money and at a higher interest rate can mean thousands out of your pocket if your credit score isn’t where it needs to be.
Getting a JOB?!:
Yes, a bad credit score can even affect your chances at a job. A report by the NAPBS and HR.com showed that out of the 90 plus percent of companies that have a screen process about 16 percent pull credit scores as well. The reasons for this? A good credit score versus a bad credit score can say a lot about an employee – especially when tasked with matters related to money and/or accounting. “If a person can’t pay their bills on time or mismanages their money,” says Catherine Alfaro from LegalZoom’s accounting division, “they likely won’t manage their employer’s finances any better.”
Getting a Date: 
What? Yup. Bankrate recently ran a survey and discovered that NEARLY HALF of people said that knowing a partner’s credit score would largely impact their decision making process in dating person. The logic? First and foremost, marriage often means sharing equity and debt. ‘What’s yours is mine’ sounds nice when you think of property, income and so forth. But what about debt? What about shared bank accounts with a person who doesn’t manage money very well? What about buying a home or applying for an apartment with someone who, instead of facilitating the process, complicate your chances at getting that dream home? Good credit scores versus bad credit scores can mean more than losing out on money. It can also mean losing out on love!
Good Credit Versus Bad Credit Review
So, does it matter if your credit is good or bad? Absolutely. From having a home to getting a car to getting a job or to even falling in love – money matters. And credit scores matter just as much! At Mediator Law Group we can’t even begin to tell you how many of our clients came to us with abysmal credit scores. The truth is that one of the most impactful metrics cast upon your credit score profile is debt to income ratio. The more debt you have, the worse your score. Being able to help people become debt free also means helping people to finally get those credit scores they’ve always wanted. To find out more, contact us and someone from our team will get back to you soon.
