Most of us only think of our credit when buying a home or applying for some type of credit. Surely our credit affects the interest rates and the amount of credit made available to us. What most of us don’t consider are other areas of our credit affects our financial lives.
Today’s example is our car insurance. When doing some research I was astonished to see that having a DUI can cost less in insurance premiums than having bad credit! You read correct, bad credit can cost 50% more than being arrested for driving under the influence!
The graphic below was taken from the Consumerist, we thought it would be insightful and hope that you not only take care driving this Holiday season, you also take care of your credit!