Jae C. Hong, AP
Credit scores affect more than just loan eligibility and interest rates, according to an article by MoneyNing. At least three other groups that are interested in how good - or bad - a credit score is.
Age, location and amount of use for a vehicle determine the price of insurance premiums, but auto insurance companies in many states use credit scores to help determine these costs as well.
This practice is facing opposition with a bill proposed in congress in July 2012, which would make this practice illegal if passed. Until then, credit score can affect those costs.
Landlords can look at a full credit report, which includes the score and also a payment history. Looking at this history sometimes determines the risk of the person wanting to rent.
Employers can't have access to credit scores, but they gather information from the report. They check for lawsuits, debt collection, bankruptcy and debt-to-income ratio. But usually these credit checks are only made when jobs involve financial responsibility, access to confidential employee information or high-level jobs.
- Couples registry gets preliminary nod from...
- The future of food? 3D printing moves beyond...
- 'Mantiques' could be a ticket to more cash
- XanGo seeks ouster of co-founder in new lawsuit
- S.L. draws up airport plans
- Obama threatens veto of Republican student...
- Taking back family dinner: A healthy,...
- AIG CEO tells college graduates facing...
- S.L. draws up airport plans 33
- Couples registry gets preliminary nod... 29
- Should we let wunderkinds drop out of... 13
- Obama opposes GOP bill on Keystone XL... 11
- IRS official to take the 5th at hearing 8
- Apple's Cook to face Senate questions... 6
- The future of food? 3D printing moves... 6
- Airport TRAX ridership remains strong... 6