VIDEO: Who is Looking at Your Credit Score?

You are correct in all the areas that are now possibly looking at your credit to determine your "worthiness" of their product. Unfortunately, a credit report can be deceiving. Not all of them are, but there are many people that have just had some financial trauma in their life and ended up losing some of their credit lines. There are many single parents out there who had some issues raising their children and ended up nearly ruining their credit. These people had full intention of repaying their debts on time but life got in their way. That sometimes happens to the best of us. Although it is true that many businesses are now looking at your credit, let's just hope that we don't start getting judged by just a number.

Unfortunately, though, in the current climate, credit is becoming more and more important, especially in terms of getting a mortgage. Some lenders, though, still allow you to write a letter explaining extenuating circumstances.

It's too bad that the business world is so consumed by numbers, but risk doesn't really look at individual situation, and risk analysis is being fine-tuned all the time so that it is less subjective.