According to the Insurance Information Institute, credit histories may be consulted when renting an apartment, applying for a mortgage or a job, and qualifying for a lower rate on auto or home insurance.
Before they were famous, many truly influential men and women started by serving their country in the US military or grew up in military families.

Credit Scoring to Boost Your Financial Future

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In a shaky economy, credit scores can be more important than credit cards.

Although it may seem that credit scores are only used to purchase credit or apply for a new credit card, having a line of credit is actually essential for building up to your financial freedom.

According to the Insurance Information Institute (I.I.I.), credit histories may be consulted when renting an apartment, applying for a mortgage or a job, and qualifying for a lower rate on auto or home insurance, just to name a few.

Jeanne Salvatore, Senior Vice President and Consumer Spokesperson for the I.I.I., stresses the importance of good credit management to build and maintain financial well-being

MANAGE YOUR DEBT AND BUILD GOOD CREDIT HISTORY

A key to building financial success is learning how to acquire and manage debt.
It can be a mistake to avoid debt altogether.

Having no credit history limits your opportunities for low-cost loans for starting a business after military retirement. Learning how to manage your debt will keep you from spiraling out of control, and allow your positive credit score to support you in pursuing a credit line to start your business for which you must have good credit history.

Even when applying for a VA Home Loan, your mortgage loans lenders check your credit records to determine your reliability to repay. Military service members with higher credit scores are always preferred customers, making it easier to qualify for all the benefits of a VA mortgage including no down payment, lower interest rates, and closing cost benefits.

LOWER RATES ON HOME AND AUTO INSURANCE

Rates for auto and homeowners insurance are often determined by your credit score. Military service members are already entitled to many low-interest rate programs for auto and insurance, but with a good insurance score, you can ensure your military access to the very best programs.



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