I don’t understand what is so important about... - Build Credit History Questions

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Questions » User Questions » Build Credit History » I don’t understand what is so important about having a good credit score. Why will I...

I don’t understand what is so important about having a good credit score. Why will I need to have a credit history at all? I don’t want to go into debt.

Answered on

Establishing a credit history does not mean you have to go into debt. Good credit is a tool, and an essential thing for most people to have. When you apply for a mortgage, a business loan, an apartment, or even a job, people will look at your credit score to help them determine whether you are a person who can be trusted to pay back you debts. Therefore, if you want to ever be able to buy a home, start a business, rent an apartment or get your dream job, it’s important to establish credit and maintain a good credit score. It’s a reality of life these days. Think of your credit score as a general indicator of your financial health, like blood pressure is for your body. Building a credit history is easier than you think, and if you are wise and responsible, you’ll have excellent credit before you know it. For example, you can start with getting a shopping credit card of your favorite store like REI or another. They will send reports to credit bureaus and build your credit history.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
See if you Pre-Qualify without harming your credit score
For Poor Credit
Easy pre-qualification process which does not affect your credit score
For Bad/Poor Credit
No Annual Fee. See WebBank/Fingerhut Credit Account Terms.
For Bad Credit

Other Questions in
Build Credit History