Why credit matters
These days your credit history counts for a lot more than “just” getting approved for financial matters. More and more, building and maintaining a good credit history is crucial to obtaining a decent job and place to live.
Prospective employers and landlords frequently want to check your credit history. They view it like this: if you aren’t responsible in financial matters, chances are good that you won’t be a responsible employee or tenant either. And then there’s the standard reason to build and maintain a good credit history: getting loans. If you want to buy a house or a car and don’t intend to pay in full with cash, you’ll need to qualify for a loan. The better your credit history is, the better rates you’ll be eligible for as well.
Building and maintaining a positive history will also save you money. Having a credit score in the excellent range can mean that you’ll pay a LOT less in interest on mortgage loans, etc. This can save you thousands and thousands of dollars over the life of your loan.
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