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Credit Education
Reasons Why Credit is important
You might think bad credit only keeps you from getting a credit card or loan, but it goes further than that. Bad credit can leave you homeless, carless, and jobless. That’s because more and more businesses are using your credit to make decisions about you. Still not convinced it’s time to get your credit act together?
Avoiding Having To Pay Cash For Everything
Credit is part of your financial power. It helps you to get the things you need now, like a loan for a car or a credit card, based on your promise to pay later. Working to improve your credit helps ensure you'll qualify for loans when you need them.
Be Able To Obtain Higher Credit Limits
Getting a higher credit limit on your credit card can be helpful or harmful, depending on how financially stable you are. If you can pay your credit card bill in full and on time every month, increasing your credit limit can give you more flexibility and help your credit scores by lowering your credit utilization ratio.
Makes Renting Or Buying Easier
Not only can bad credit keep you from buying a home, it can also keep you from renting an apartment. Many landlords now check credit to determine the likelihood that you'll be late on your rent. Bad credit could get your rental application denied.
Allows You To Purchase A Home With Lower Interest Rates
Home-ownership has always been the American Dream. Bad credit is the nightmare that keeps you from realizing that dream. Many banks won't finance a mortgage until you've repaired your credit and those that will approve you with poor credit will charge you a significantly higher interest rate.