As consumers, we fail to realize how important building credit is. With the exception of payday loan lenders and a few like them who don’t require a credit check when obtaining their services, most creditors report all open accounts, balances, late payments and so forth to the three main national credit bureau’s. These credit bureaus determine a credit score for each consumer based upon their own mathematical algorithm which creditors look at before awarding or denying you credit. Most people don’t realize just how important good credit is these days; I was shocked by reading this article on the payday loan money blog at personalmoneystore.com which said that everything from car insurance, to personal employment, takes into account your credit score. You can read the article yourself entitled “Credit: Part I | Financial Tips from Your Payday Loan Source” on the payday loan money blog at personalmoneystore.com
