Credit

Good credit?

Having good credit demonstrates to any lender that you are financially responsible and have good habits when paying it back. Good credit will qualify you to lower interest rates when you buy a home, car, or anything that is require a loan. What does it matter to have a lower interest rate? It means that you will save money since your interest rate will be lower the lower interest rate the less money you will pay to lenders.

No credit?

Not having a credit score can be bad because it can make it difficult to get credit and may result in higher interest rates. However, not having a credit score will let you start a clean slate to take the correct steps to building credit.

Here is an example of what lenders look when pulling your credit, it doesn’t mean you will be denied credit. But it will decide on what interest rate you will get based on your credit score. To get an idea what you score you should have and if it's good or not I included an example or the credit score ranges.

What credit do you have? and should you work on getting a better score or not. So many questions on credit but only you can decide what to do to build up your credit.

• Very Good Credit: 740 to 799
• Good Credit: 670 to 739
• Fair Credit: 580 to 669
• Poor Credit: Under 580 

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