Why Your Credit History is Important

One of the items that you have probably discovered in your efforts to improve your finances is that your credit history is important.

Your credit history, usually condensed down to a three-digit number known as your credit score, is used by a wide variety of financial service providers, especially those that lend money.

But why is your credit history so important? ¬†And does it even matter if you don’t plan to borrow money?

Credit History: Your Financial Reputation

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For the Best Credit Cards, You Need Good Credit

For years, many expect that credit cards will provide easy access to credit.

This is because it is often easier to get a credit card than it is to qualify for a personal loan or some other type of loan.

Even with lending standards tightened since the 2008 financial crisis, credit cards are still considered some of the easiest sources of borrowed money.

However, even though you can get a credit card with less than perfect credit, it’s important to note that your credit history still matters.

If you want access to the best credit cards, you need a good credit score.

Low Interest Rate

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How Credit Cards Help You Build a Credit History

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Credit cards are, no doubt, convenient.

Instead of carrying around cash, you are able to carry around only a small plastic card, and swipe it with ease when you are ready to pay.

However, credit cards are more than just convenient; they also provide a way for you to help establish your financial reputation.

Using a credit card is one of the fastest and easiest ways to build your credit history.

What is Your Credit History?

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