Consequences of Lower Credit Scores

• You may be denied credit.
• You may be approved for credit, but will have to pay a higher interest rate.
• Insurance companies can turn you down or put you in a higher risk category if they consider you a bad credit risk.
• Potential and current employers, with your permission, can run a credit check prior to making a selection of candidate or promotion.

If you have been turned down for credit, you are entitled to a free copy of the credit report the lender used to make their decision.

Every 12 months, you can receive a free credit report from each of the three major credit bureaus. To have an idea of what your credit file contains throughout the year, it is recommended that you request your free copy from a different bureau at four-month intervals.