Ever heard the expression, “nice guys finish last?” Well, the same principle could be true about your credit scores.
A new study from researchers at LSU, Texas Tech, and Northern Illinois University discovered an interesting correlation between personality and credit scores.
Specifically, they found that those who are more disagreeable and downright rude have a greater likelihood of possessing good credit scores.
Conversely, those who are easy-going and friendly are more likely to have bad credit scores.
Why? Well it’s simple really. If you’re a nice guy, there’s a better chance you’ll sign up for that store credit card, or co-sign with a friend or family member on a loan that may go sour.
Or simply accept the fact that an erroneous collection shows up on your credit report and do nothing about it.
Meanwhile, those who are deemed “rude” may say “no thank you” to gratuitous credit card offers, and fend off those pesky individuals looking for a co-signer.
Additionally, there’s a good chance they’ll fight anything negative that appears on their credit report.
So that explains that. Sometimes you’ve got to take a stand to avoid certain credit scoring missteps. And in the credit scoring realm, speaking up is always better than letting thing fester.
You’d be surprised at how agreeable creditors will be in cleaning up any mistakes, even if they are your own. You can also contact the credit bureaus directly to solve any glaring issues (credit report disputes).
Regardless, don’t stick your head in the sand. Tackle your credit score issues head on and you’ll save money via lower interest rates and avoid future headaches.
No Link Between Low Credit Scores and Poor Work Ethic
Interestingly, the same study found no correlation between poor credit scores and bad job behavior.
Employers often pull credit reports as part of their background check, and many researchers have determined that those with bad credit scores are more prone to get into trouble in the workplace.
While they didn’t find a correlation, one could still argue that a low credit score can lead to future financial problems.
And problems at home can certainly rear their ugly head in the workplace, and potentially force a worker to sever ties if things really take a turn for the worse.
So I can’t say I agree with that bit of their research, as there are just too many intangibles.
Tip: If you’re unsure where you stand credit-wise, check out my handy credit score range.
(photo: shioshvili)