The credit history is a credit folder on separately taken person or the company. The bad credit history is determined by low credit points. Actually, there is nothing bad in that that you have bad credit history, but your costs can appear on hundreds and even thousand dollars more. Your credit points it is number in a range from 300 to 850. On the average this number is nearby 675.

And so we will consider some areas which the credit history influences.

The bad credit history can prevent you in reception of some work places or in promotion on an office ladder if you already work in the big company.

According to the legislation of the USA, it is authorized to employers to research the credit report of the workers. But under the law employers are obliged to receive your written assent. You can refuse, but in this case the majority of employers react negatively.

The insurance companies in many states use credit points, for determination of the sum of insurance installments on real estate and cars. The insurance companies assert that people with low level of credit points, according to a thicket show various claims to the insurance companies. The bad credit history can lead to that you should pay more than other people with similar cars or real estate.

Most the bright example of your expenses depending on your credit history, is various long-term credits, for example mortgage lending.

If your credit points equal 720 and above, in this case you will have a possibility to receive more low interest rates on a mortgage or a loan on real estate. At credit points between 675 and 719 it is necessary to pay greater percent, approximately in one and a half time, unlike those at whom the sum of credit points 720 and above.

If you credit points are between 620 and 674. In this case you need to give greater quantity of documents for credit reception. And the interest rate most likely will appear for 2 percent more than at borrowers with excellent credit history. In a case if the credit history constitutes 620 points and more low it will be difficult enough for you to find the creditor but if someone agrees on credit granting interest rates can appear for 4 percent above that can constitute the considerable sums at payment during all period of validity of your mortgage.

At car purchasing on credit there are similar problems. In most cases the buyer overpays considerable the sums from car original cost.

The low level of credit points can affect other spheres of action also. The majority of the companies of cellular telephones perform credit check of the future clients. Some municipal companies can demand from clients with bad credit history to pay the deposit at opening of the new account.

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