Why Care About Credit?
One of your best assets is your good credit history. Strong credit references can open a world of financial opportunity – whether it’s financing your education, renting an apartment, or meeting criteria for a job. On the other hand, poor credit will follow you for years and can hurt your chances for other loans in the future. Your credit history is part of what affects the lender’s decision to give you a loan or line of credit, how much you can borrow, and what interest rate you will pay. But if you have no credit or less-than-perfect credit, it doesn’t mean you can’t get a loan. Many lenders consider a nontraditional credit history, such as proof that you’ve paid your rent and utilities on time. In addition your credit history can influence: • The day to day. You may need good credit for such routine matters as having utilities connected to your home, or getting a cell phone. • Jobs. Employers often check the credit of prospective employees. A solid credit history reflects positively