Thursday, February 17, 2011

Bad Credit: Not Just for Loans Anymore

Tim Chen (U.S. News & World Report)
We all know that bad credit shows up on the FICO score, raising interest rates or putting loans out of reach. But the damage isn't just confined to your credit score. Here are some unexpected ways that bad credit can come back to bite you. [Work, insurance, cell phones, apartment rentals, utilities:]

WORK: Employers can buy a "consumer report" from a credit reporting agency. The report doesn't include your credit score, but does include a lot of information you wouldn't expect: your driving and criminal records, as well as interviews with your family, friends, neighbors and known associates. And if you went bankrupt more than seven years ago and your salary tops $75,000, the reporting agency can divulge your credit history. More>>

Infographic: Science in Obama's 2012 Budget Proposal

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