My father, who worked for GE for 50 years, held over 750 patents through GE, was an expert on protecting NASA's launches from lightening strikes, voted Republican every time (he gave John Kennedy 2 weeks to prove himself--and failed of course) always said to keep good credit.
He used to say: "My dad would have lost the store if he hadn't always paid his bills on time."
His father owned the Bosworth Hardware Store in downtown Cleveland all through the depression. His suppliers cut him slack because he had built up all kinds of trust with them. My uncle inherited the store, moved it around the corner from Euclid Avenue when the neighborhood shifted from residential to business, and called it Bosworth Industrial Supply Company. My uncle has passed on, and I don't know if it's still there. I suppose I could google it.
Anyway, credit is equally important today. In looking to buy a home, make sure your credit is absolutely top notch.
Your credit score is being used more and more by all sorts of companies to decide whether they should do business with you and if so how risky a customer you are.
Mortgage companies will not lend to you if your credit score is not high enough, and they will offer you a lower if your credit score is higher.
Insurance companies will not insure your properties if your credit score is really bad. And they will charge you less the higher the score.
All kinds of companies are relying on credit scores in monetizing the risk of doing business with you.
They didn't have credit scores in my father's day, but credit was very important. It remains so today.
For my thoughts on entrepreneurship, go to www.hatman2.blogspot.com.
Go to www.byandforwriters.blogspot.com if you would like to get a short story published.
For tips on writing and to read my book for free go to www.kearneymusicschoolmurders.blogspot.com.
For a proper connection strategy, go to www.referralbasedbranding.blogspot.com
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment