Over the last few weeks, I've talked to colleagues and friends who are Managers within their companies. Each of them works in different industries from retail to financial services. They'd tell me the economy is turning around and they're looking to hire people to fill vacant positions but are unable to because of one reason. The reason is not that they can't find a number of qualified people who are looking for work. The issue lies in that people are not passing the required credit checks.
No matter what industry you work in credit checks are becoming more common and although you may have a perfect interview, excellent references and are perfect for a position, if your credit is messed up chances are you aren't going to get hired.
Without divulging too much information, I admit I fell for some of those credit card schemes when I was in college. You know the ones where they'd sucker you into opening a credit card and in return you'd receive some minimal incentive, like a t-shirt or a gift certificate to a restaurant. Glad that's not allowed anymore. Even though I opened a few credit cards, I never charged them up and ignored my balances as had some of my friends. To this day, I make sure my bills are paid on-time every month, whether it was a credit card, utility, cell phone, or student loan bill because all of those can be reported on your credit if you miss payments.
I was taught from an early age that without good credit you will not get far in life. Good credit is needed to get a job, a mortgage, a car note, and start a business. The better your credit is the lower interest rates you will have and the less money you'll be throwing away in the long run.
Just felt the need to write this post because I don't think a lot of people realize how important it is to have good credit. Paying your bills on time, keeping track of your finances, and checking your credit report annually are the keys to maintaining a successful track record when it comes to your credit.