Credit Is Important

Put simply, credit is the reputation for repaying debts on time. The better your credit, the more willing companies and people will be to lend you money, issue you a credit card, rent a house or apartment to you, hire you, or provide services to you on favorable terms.

Good credit doesn't require a spotless payment history, but poor credit, once established, can be difficult to escape. When you apply for a credit card, personal loan, or any other type of credit, the lender must decide if you are a good credit risk. Creditors do this by checking your background to see how you've paid debts in the past. A poor repayment history will not help your cause.

Click on the button above for more information on how to understand and monitor your credit.