When you hear credit score, you likely think of some company pulling your credit because you’re taking out a loan, establishing a line of credit, or applying for a credit card. Well, those days are over. It’s not just about borrowing money that triggers companies to take a look at your credit history, and even you credit score.
Now, companies that are not even financial institutions, creditors, or lenders are pulling your credit and checking out your credit score.
Check out at least five of the ways your credit score can affect areas of your life that aren’t really about borrowing money.
1. Finding Your Soulmate
Yes, you read that right. Not only is your potential life partner checking out how you look in those jeans, he or she is also checking out your credit score and credit history. (Not literally, of course. Although some might ask you to pony up a copy of your credit report.)
Yes, your potential soulmate wants to know about your financial responsibility. Before your walk down the aisle, your partner wants to know about your finances because when you marry someone, you not only marry their bad habits at home and their insane (or sane) family, but you’re also marrying their finances with your finances.
According to U.S. World & News Report, nine out of 10 survey respondents say that their partner’s financial responsibility is important to them because they worry it can affect their ability to buy a home, obtain decent interest rates on loans, and responsibly manage money in their joint accounts.
Three in 10 women and two in 10 men said a poor credit score is a relationship deal breaker. It gives a whole new meaning to sprucing up your dating profile online.
2. Cost of Living
Your credit score can now directly relate to how much you pay for, well, almost anything from cell phones and landlines to insurance and utilities. Service providers of all kinds are now checking applicants’ credit scores to gauge the level of risk you represent.