Credit Scores – What They Mean… How They Impact Your Cost of Living…

But the impact of credit scores does not end with the interest rates on your mortgage, automobile loans and/or credit cards. Your credit scores are also used as a part of another score called a C.L.U.E. (Comprehensive Loss Underwriting Exchange) Report that determines how much you will pay for any type of properly casualty insurance… most notably: Homeowners / Hazard Insurance or Automobile Insurance.

Finally, you should be aware that increasingly your credit scores may be reviewed as a part of your application for a job. For years your credit rating has been an important factor in employment at almost any financial institution. However, now they are being considered for other positions as well. So the cost of bad credit can be far reaching.

In the coming weeks, I’ll review how credit scores are determined and what can be done to protect and improve your scores.

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