Imagine a big warehouse full of all kinds of information about you. Now imagine three of them. (Just so you know, these “warehouses” are data storage facilities – and are updated constantly.)
Now whenever you wish to make a major purchase, strangers run your information through a mysterious mathematical equation. Based on the results, more strangers make decisions that can negatively affect your family.
This happens every day to you and folks everywhere. To not understand how this works – and what to do about it – invites trouble.
Here are five reasons you should understand and take action:
Reason #1: Your access to credit could be limited and very expensive.
Reason #2: You could likely pay higher insurance premiums than your neighbors (because your insurance company has convinced regulators that people with lower credit scores file more claims.)
Reason #3: There are some jobs you won’t be able to get with bad credit.
Reason #4: Landlords, utilities and cell phone companies will require substantial cash deposits because they think you are a higher risk not to pay.
Reason #5: Most importantly, your children and grandchildren (who “never listen”) definitely WATCH what you do! Why not show them how to live a better quality of life by improving your’s? That is your true legacy to them