Advantages of Credit + Benefits of Building Good Credit

There are many other advantages of credit and benefits of building good credit that you might not know about.

It can be: -A monetary amount that a creditor agrees to extend to a borrower. - An indicator of whether or not a borrower is likely to repay a loan on time.

What Does “Credit” Mean Exactly?

From a financial perspective, there are many situations where having good credit can save you thousands of dollars over the long term.

What are the Benefits of Good Credit?

This rationale serves as the most important reason to build good credit. Those with excellent credit typically qualify for the best loan terms. 

1. Best Loan Terms

Not all credit cards are created equally. You must have good or excellent credit to qualify for the best credit cards, like travel rewards cards or other elite cards.

2. Qualify for Better Credit Cards

If you live in a competitive area, landlords are more likely to choose a tenant with an excellent credit rating and a history of on-time payments.

3. Apartment Hunting

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