The Good Things a Good Credit History Would Bring

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 » Research » Guides » Building Credit History » The Good Things a Good Credit History Would Bring

The Good Things a Good Credit History Would Bring


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.

Any consumer would know the importance of having a good credit history. The thing though is that despite this awareness, a lot of people are still keeping a bad one. For people with no credit yet, here are some reasons why you should always keep your credit in a good standing:

Having an impressive credit history is not just a sort of self-fulfillment but also a sure way to enjoy certain benefits like low interest rates and a high chance of loan, mortgage or credit card approvals. With a bad history while someone with a blurred credit will find it hard to find good loan deals, rent a home or open a bank account.

We all know how high rates could get at times. The good news is that lenders and credit card providers offer low interest to individuals with good creditworthiness. People with bad credit history still can get approved but with the consequences of higher rates since they are credit risk besides lenders invest their money on them.

When emergency comes or urgent need arises, most people run into loaning companies for help especially when no friends or relatives can lend them money. It is true that taking a loan can save you from some emergencies but with a credit reputation which is not too impressive, you'll probably get rejected of your application. But as stated earlier, loans can still be granted to people with bad standing but with very high rates.

Basically, the advantage of having a good credit history is having the edge to get approved of applications involving money over those with bad ones. You too can be among those people who are able to manage their credit. Just learn how to spend within your means only. Spending more than you earn sure will leave you into deep burden.

It might seem like a scene in the movie but possibly happens in real life. You work hard for years and were able to save money and were able to buy properties. With unreasonable spending all you hard work will go to nothing and the worse? Lose all your major properties. This could be easily prevented so long as you know how to value your hard earned cash. At times when there is no one you can turn to, lenders are always there to lend a hand to you - only if you have a good 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.
Add to Favorites:

Related Research:

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Citi Premier® Card – A World Elite Mastercard Travel Credit Card

Posted: February 10, 2021

Citi, a Credit-Land.com advertising partner, offers the Citi Premier® Card, which gives elevated ThankYou points for your travel expenses and, with the recent update of the rewards program, for purchases at restaurants, supermarkets, and… Continue reading

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Discover it® Miles Review: Turn Miles Into Travel Experiences or Cash

Posted: February 10, 2021

Many travel credit cards come with tempting perks, requiring some effort bonuses, a complicated rewards structure, and steep annual fees. The Discover it® Miles is probably the best Discover card for travel, especially if you do not travel… Continue reading

Top 5 Secured Credit Cards: June 2021 – Experts’ Choice

Top 5 Secured Credit Cards: June 2021 – Experts’ Choice

Posted: October 22, 2020

The COVID-19 pandemic has made significant changes not only in people’s lives and their financial standing but also in the entire financial sector of the U.S. We have collected the best secured card offers from our partners so that you can… Continue reading

You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!