Unexpected ways your credit score may be used

You'd Be Surprised Who's Checking Your Credit Score

by Paige Estigarribia

This sponsored post was created with support from Credit Sesame in partnership with Kasai Media.

Keeping tabs on your credit score is a pretty good goal. In fact, according to U.S. News and World Report, a high credit score can open many doors, including lower financing rates, better credit card offers, and generally better negotiating power. Of course banks, credit card companies, and mortgage companies care about your credit score. But, who else may also be checking your credit score? Here are five unexpected ways you may not have considered, where your credit score and credit history could affect your lifestyle and wallet.

1. Landlords

Considering renting a vacation property? Or maybe you've decided to move, and want to rent a home or apartment for a few years before purchasing? If you're dealing with rental property and a landlord or property management company, you may need to provide credit information as part of your financial paperwork. Landlords want to get a picture of your finances. They may be looking at your credit report as a way to find a possible history of financial problems before they decide on a rental arrangement.

Who is Using Your Credit Score

2. Utility Companies/Phone Companies

Recently moved and need to turn on your electricity and water? Or have you decided to change cell phone or cable companies? If so, they may want to access your credit score to see whether they should charge you a deposit or fees. Many times, utility and phone companies will access a credit score to see if you qualify for a "no-deposit" arrangement with them, and some may even waive fees for good credit.

3. Auto Insurance

Are you paying too much for your auto insurance? If you're getting quotes and thinking about changing, chances are that some companies will want access to your credit score. Auto insurance companies will often associate your credit score and credit report with your general responsibility towards obligations. Depending on the company, your credit score can sometimes even affect the rates and quotes provided.

4. Employment Interview Process

More and more often, employers are interested in employee credit information. Again, much like auto insurance providers, these employees may view a credit report as a general measure of responsibility. They also don't want to hire someone who will be distracted by their finances or even tempted to steal from the company.

5. Marriage

A good topic to discuss before marriage is each partners' credit reports and credit scores. Spouses may want to review credit reports and talk about debt obligations as well as credit. Plus, this type of review allows spouses to make sure that all credit reports are correct before major joint purchases like houses or cars. Discussing credit scores and credit reports with your future spouse allows each partner to gather an understanding financial positions and obligations.

Staying on top of your credit is a wise move, especially because there are many different and unexpected ways that your credit score could be used. Credit Sesame is a good resource, because you can actually create a free account, get a free credit score, and learn about your credit monitoring and protection too. It's a win! It helps you stay on top of your credit, so that hopefully, you can be in a better position when financial and life decisions are made.

Paige Estigarribia is a writer for The Dollar Stretcher who enjoys writing about food, frugal living, and money-saving tips. Visit Paige on Google+.

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