Many people never bother to keep an eye on their credit rating; some never check theirs at all.
Its easy to underestimate the value of a credit rating, but in truth; unless you belong in the high-income club and can afford to buy everything with cash, your credit rating dictates the quality of life you live, the following are some of the known ways:
Bargaining power, borrowing:
Have you ever done your shopping in a market place? Notice how several traders were vying for your attention, each trying to convince you that theirs is value for money, best quality etc? Well, in such an instance, you are in a position of power; they have the same product and you have the simple task of choosing between them. If you exercise your power, often youd be able to either bring the price down or get more goods than originally quoted.
If you look closely, similar patterns are repeated in almost all aspect of life, when it comes to credit (i.e. loans, credit cards, etc), a credit rating is the preferred currency for just how valuable a customer youre.
If you took the time to count, you might find that there are hundreds of credit card providers out there and they...
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