HOW DOES CREDIT IMPACT YOU?
Credit, especially good credit, is very important. Your credit effects your life more than you may think! Today’s economy runs on credit. Good credit can be the make-or break detail that determines whether you can get a mortgage, car or student loan. Even if you are not in the market for a loan, good credit can still make an impact. Your credit information can be a factor in whether or not you can rent that nice apartment, how much you pay for insurance, and even if you can get a job. Landlords, companies, and employers often use your credit to determine if you are responsible and reliable.
Bad credit can suggest that you are a risky bet. While bad credit may only show how you deal with debt, some will use it to assume you are irresponsible in driving a car, taking care of an apartment, or showing up for a job.How does bad credit happen?
Unfortunately, it is very easy to get bad credit. Bad credit ratings happen when a person does not pay back money borrowed on time or when that person simply doesn’t pay it back at all. There are varying degrees of bad credit. A person is not automatically given a bad credit rating if he misses a payment or is late a time or two. However, if a person is continually late or he does not make a payment for several months, his credit rating will be affected and could possible hurt him in the future.
What are the benefits of good credit?
Having a good credit report enables you to borrow more money at better interest rates. Why? Because the banks know that based on your credit history you are a responsible. Many potential employers also look at credit reports as a way to judge a person’s responsibility. Therefore, your good credit may even help you land a new job. Having good credit is important.
How can I fix my bad credit?
Credit ratings, even bad ones, can be improved and fixed. AMA Consulting & Business Svcs, Inc has many options available to help you get the best solution for your situation. For more information contact us at: (434)219-6692