When it comes to your finances, your credit report is a deciding factor in many cases. Whether you buy a home or rent an apartment or apply for job, your credit report plays a big role (unless the regulation of the state prohibits it).
A solid credit report is often the key to a better lifestyle. That is the reason why credit repair service exists, to help people with the process to fix credit score. This is because a low credit score is often a hindrance in life.
But there are a number of things that do not find place on your credit report but are equally important. These things may not always be reported to the credit bureaus but have a major impact on your life. They are the following:
Your bank account history
Many people at some point in their lives have a very low or overdrawn bank account balance. If you’re someone who has always had some money left in the bank account which never became overdrawn then you are safe.
Otherwise, it can be big trouble to open bank accounts in the future because your bank account history is considered when opening a new account. No matter how badly you need money, it is prudent to leave the minimum balance in your bank account to avoid getting overdrawn.
Your rental history
Falling behind on your rent can be devastating for future rentals. If your future landlord learns that you never paid your rent on time, it can make getting the apartment of your choice difficult. While your improve credit score, taking your rental history into consideration is also important.
Paying your utility bills
Providers look at your credit report when you apply for cable/internet or even cell phones.
Based on your utility bill payments the provider will try to learn if you are a reliable customer. Your credit score is also paramount because that helps the provider determine if a deposit is needed from you.
Your criminal records
Most people may have one or two minor traffic violations here and there, but they don’t make much of a difference to your credit report.
However, if you have had criminal offenses against you in the past, it can make a big impact on your credit report.