Anonymous
Anonymous asked in Business & FinanceCredit · 2 months ago

What is the point of having good credit?

7 Answers

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  • Anonymous
    2 months ago
    Favorite Answer

    To prove you're trustworthy to financial institutions or real estate renters. Well, that's the theory anyway.

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  • 2 months ago

    To minimize your interest expense the next time you borrow money.  

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  • RICK
    Lv 7
    2 months ago

    To get a loan for a car or house at better interest rates

    To qualify  to rent an apartment

    To qualify for certain jobs

    Just among a few

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  • Anonymous
    2 months ago

    You can get a loan if you need it

    You can get a loan at a lower interest rate

    It might help you get a job.

    Insurance rates can be lower

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  • Anonymous
    2 months ago

    Just never buy a house or a car. Who needs credit when you can live under the interstate.

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  • Scott
    Lv 7
    2 months ago

    Having good credit lets banks, employers and others who have a legal right to access your credit score know that you have a verifiable history of honoring your obligations, pay them on time, and have the ability to manage your finances. This is a good thing whenever you are applying for a loan, a mortgage, renting a house or apartment, purchasing auto insurance, or applying for a job.

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  • 2 months ago

    It’s to ensure a seller, proprietor, landlord, etc., that the person with good credit demonstrates responsibility, financial security and will likely abide by the terms of an agreement

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