In 2014, I
entered the 10th year of being a professional out of college and
into the real world. Many things have changed since then. Today, we can check
our emails from our phones and synchronise our contacts from our phone to
social networks. In terms of grades, well they say it’s nice to escape from a
grading system, but actually, it’s still here, except this time, the teachers
are also competing against you.
1.
Financial
Institutions Evaluate Your Grade
When you
become employed, you have to do well at work. The HR will monitor every
activity you do and your superiors your performance in handling your tasks with
your skills. The banks will also observe your spending discipline and
capability. From here, they will assess if they can trust you enough, based on
grade, to take on higher credit limits.
2.
Interest Rates and Grade Level
The higher
your interest rate, the lower your grade level. Grade levels are assessed by
risk values. An unemployed person is equivalent to a freshman and is relatively
unknown to the bank based on his financial conduct. Meanwhile, an employed
person who had accomplished multiple financing on a home and a vehicle can have
lower interest rates.
3.
Outstanding
Students
Banks will
always want their consumers to spend. However, spending on the average way you
use your card will never merit you any higher credit limit or low interest
loans from your bank. Outstanding borrowers have successfully juggled two or more high amount loans at the same time, which helps upgrade their credit score
and earn the respect of their lenders.
