Repairing your Credit

This article was shared by Sis. Bush, from Blue Water website.  Very good information

 

3 reasons to repair your credit
even if you do not need to be
approved for a new loan.

 

Most consumers do not think about their credit score until they anticipate applying for a new loan. While you should absolutely repair your credit before you make a major purchase, there are very good reasons to repair your credit even if you do not intend to make a purchase.

Employment - You may not be aware, but the majority of employers conduct thorough background checks on prospective employees. At one time, background checks were limited to positions involving a security clearance. Current technology has made it very cost effective for employers to conduct background checks on all applicants. If your credit report is full of late payments and charge offs, you may appear to be someone who is unorganized and unwilling to make good on your obligations.

Risk of losing existing lines of credit - Many consumers with poor credit feel that since they have one or two lines of existing credit, they can ignore their poor credit history. This is a mistake, as your existing creditors will perform periodic credit checks to evaluate your continued credit worthiness. Despite the fact that you pay your statements on time and use
the credit responsibly, the credit card issuer could view your poor credit history as a risk and close your existing account.

You never know when you will need your credit - Let's face it, life is unpredictable. You never know when your car will be wrecked in an accident or your refrigerator or washing machine will stop working.