5 Qualities Your Personal Brand and Credit Score Have in Common

The Fed Chair recently announced its decision to keep interest rates steady, which is fantastic news, especially if your credit is in a position that allows you to capitalize on the incredibly low rates.

Your credit score isn’t accessed or examined every day of your life. But — when the time comes for others to evaluate you and arrive at a conclusion based on your score, you definitely want it to be in the best shape possible so that you’re in a position to expect a favorable outcome.

Sound like anything else in your life? It should. And it’s called your personal brand. Check out these 5 important attributes that your personal brand and credit score share!

1. Many people don’t realize the critical role that their personal brand or credit score will play in their lives until that initial moment arises when they need them. This isn’t necessarily bad news. It’s just the nature of both. Nobody comes out of the gate with a perfect credit score or impeccable brand. Brands are built, as are credit scores, through performance and consistency over time. The key is to get a head start on building both.

2. If your personal brand or credit takes a hit, they can take a long time to rebound. Be aggressive about trouble-shooting and resolving issues. Be it a misunderstanding about a deliverable, a major deadline that was missed, a work call that went south, or a few late payments that made their way to your credit report. If something occurred that resulted in damage to your credit or brand, take action immediately to repair it. Otherwise, risk long-term damage.

3. Your personal brand and credit score are crucial factors that stakeholders weigh when deciding whether or not to work with you. Investors and lenders/creditors want to know that working with you won’t ultimately result in a loss for them. They evaluate your credit mix (variety of credit accounts such as credit cards, mortgages, auto loans, etc.). Likewise — leadership/decision-makers heavily consider your portfolio of responsibilities, experiences, challenges, and accomplishments when considering you for a new role, special project, or promotion.

4. Both should be kept under constant observation. It isn’t a good idea to just assume that all is well with your credit or your brand. Just because things were looking good in Q1; no late payments or significant increases in debt; you received glowing reviews from leadership or customers, that does not mean that everything is tip top in Q3.

If you aren’t utilizing at least one credit monitoring service to check on your credit report regularly, you’re leaving entirely too much to chance. In the same vain — make a habit of getting feedback regularly from those you consistently work with (or for) so that you maintain a 360 degree view of your brand at all times.

5. Your personal brand and credit score are a reflection of your ability to not just handle responsibilities, but to be intentional and consistent in your handling of those responsibilities. Establishing a strong brand or credit score doesn’t happen through a few good decisions and performances. Since both are based on the experiences that have given others, you have to be deliberate about executing the type of actions that yield/provide favorable results, day in and day out. Year-over-year.

Bottom line: There is so much in life that is outside of our control, but there is so much more that IS. We don’t control what the interest rates are going to be, but we do control whether or not we’re in a position to qualify for the best rates available. We don’t control whether or not we’re selected for an opportunity, but we do control whether or not we’ve positioned ourselves to be in the running for that opportunity.