Credit Coach Playbook #2: Technical “Fouls”

Credit Coach Playbook #2: Technical “Fouls”

March 17

Category: Playbook

Why Your Credit Report Matters Beyond Loans

Most people know their credit report is checked when they apply for a credit card, mortgage, or car loan. However, many forget that companies also check it when applying for auto or homeowner’s insurance, setting up utility services, or getting a cell phone.

Credit Reports Influence More Than You Think

Landlords often review credit reports to choose between rental applicants. Potential employers might examine your credit report before offering you a job. In fact, lenders may even use your personal credit score to decide whether to approve business credit.

How Missed Bills Become Technical Fouls

If you don’t pay your bills, many of these companies report that information to credit bureaus. At Credit Coach, we call these “Technical Fouls.” For instance, if you switch phone carriers, change insurance companies, or move apartments, don’t forget to settle your final bill.

Leaving even a small balance unpaid can lead to a collection account on your credit report. Think about how that looks to a hiring manager or a lender reviewing your business credit application. It’s not a good look.

Stay in Control and Avoid Penalties

That’s why knowing the rules of the credit game matters. Even small, forgotten bills—like a missed cell phone payment—can count as fouls. They result in penalties that may keep you from reaching your financial goals.

Offensive Tip: Keep Your Address Updated

Make a habit of updating your address with all creditors when you move. That way, you’ll continue receiving billing statements without delay. Some companies let you update your information online, including for temporary addresses and P.O. Boxes. It’s a small action with a big impact on protecting your credit.