Credit reports affect your ability to get a house, car, loan and even a job. You need to take your credit score
seriously, even though they don't always tell the whole story.
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Who would you rather lend money to: someone with perfect credit who owes a lot of other
people they can
never repay, or someone with a blemished credit score but who owes no one else?
Unfortunately, some people look at a credit score without looking behind what it means and where the score
Someone can have a large amount of debt that they will never be able to repay, but by robbing Peter
to pay Paul, as they increase their debt they also keep up their credit score.
Compare that to someone
who has a bad credit score because they fell behind on something during a brief period of unemployment or medical issue.
It wasn't their fault, and maybe they even were able to get back on track or pay the debt in full.
Regardless of whether or not someone truly is a good or bad credit risk, companies and lenders feel safer giving a standard
to follow to decide on lending, rental and employment.
It is easier to tell someone not to work with someone
whose credit score is below X than it is to train them to properly evaluate a person's true merits.
can make up their own rules and more and more rules are followed because of some belief that it works.
whether or not the rules make sense, tell the true story, or are not representative of a person's ability to pay a loan,
be a good tenant, or do a good job as an employer, you can't force someone to ignore their rules and so you have to pay
attention to them.
Your credit score is important, whether it is accurate, tells the whole story, or makes
no sense. So pay attention and try to keep it up rather than fight a system to prove yourself in spite of a bad score.