Ten reasons to have good credit
As soon as my kids turned eighteen, I made sure they had two different bank issued credit cards. And from that day on, we began building their personal credit history. They all now have superb credit, and between them have enjoyed pretty much every benefit listed here.
- Your bank may offer you credit limit increases without you having to ask = no inquiry!
- Your bank may offer you an unsecured line of credit at their best rate and terms – personal overdrafts too.
- Mortgage lenders look for ways to say yes, not no, to your application.
- You have an excellent chance of obtaining the lowest possible mortgage interest rates.
- Potential landlords welcome you as a tenant with open arms.
- Car leases and loans become non-stressful exercises.
- Occasionally your credit card issuer will offer you balance transfer promotions at very low interest rates.
- New cell phone deals and low property insurance rates are ‘par for the course’.
- You will be considered a good guarantor for your kids if or when they need a helpful parental hand.
- You’ve always got a conversation starter in awkward social settings.
Related Post: How to boost your credit score quickly
Related Post: How to protect your credit score