5 Surprising Things That Your Credit Score Can Impact

Ah, the credit score. Good ol’ Fair Isaacs, right? It’s something that most people don’t think about unless they want to buy a new car, get a home loan, or get a shiny new credit card. Though it’s an afterthought in most people’s minds, a credit score impacts a life lot more than some would expect.

Chances are most people don’t even realize how important having good credit really is. Take the following ways that a credit score can impact daily life, for example…

Apartment Search

Most people assume that having a good credit score is only mandatory if you want to get a mortgage. This is just not true. Landlords check renters’ credit scores all the time and often will make a decision on who to rent to based on the scores they find.
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Landlords who rent to low-income earners, in particular, tend to have stricter standards when it comes to credit. A 620 is the absolute minimum credit score needed to rent, but in the vast majority of situations, prospective renters will probably need upwards of a 680.


Bad credit is often caused by unemployment, but the funny thing is that it can also cause unemployment to be prolonged. Many companies use credit scores as a way to gauge a potential employee’s responsibility.

This is doubly true in the finance sector, simply because a bad credit score tends to reflect bad financial practices. As such, with a credit score beneath 700, applicants might have a hard time finding a job in this industry.

Bank Account

Anyone who wants to open up a bank account, should be careful. Banks check credit scores for every kind of transactions they do—and that includes allowing prospective account holders to open new or different accounts.
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Though it’s rare, there are cases where people have actually been denied approval for a bank account based on their score. A very poor credit score is reason for banks to bar individuals from working with them at all.

Insurance Rates

In most states, there are mandatory car insurance laws. Then of course there is also insurance to protect a home, or items in an apartment. Insurance is good like that. It gives people peace of mind, not to mention rights and privileges.

As necessary as insurance is, it’s harder to obtain for those who have bad credit—at least, at a good rate. Insurance companies check credit scores to verify that potential clients will be capable of paying bills on time. If a person’s credit score is low, they will charge higher rates. That’s because not paying bills on time, or at all, raises that person’s risk score. It’s part of risk management.

Utility Bills

Utilities too? Absolutely. Utilities are necessary and although it is possible to get them without a good credit score. However, they also check the credit scores of new utility customers.
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Technically, companies cannot be bar people from getting utilities due to bad credit in many areas—but they can make it harder for people to get them. If they see a score that’s extremely low (such as a 500), they may require a cosigner or a large deposit equal to several month’s costs before they will turn on services.

Love Life

There have actually been cases in which couples split up due to a bad credit score, or delayed getting married due to the impact it would have. Just saying.

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