Good vs. Bad Credit: Why Is This Important?

There are a lot of misconceptions, even outright lies, regarding credit, especially in terms of what determines good and bad credit. Currently, television is full of commercials for debt consolidation companies and credit counselors. Daytime talk shows abound whose premise surrounds people who have gone bankrupt by using credit cards. Many of these stories are extreme examples of what can happen to people with bad credit, but they still do not answer the million-dollar question: What is the difference between good vs. bad credit and how does this relate to getting a decent credit card deal?

Good Credit & Good Credit Score

Credit, especially good credit, or in other words good credit score is very important. It affects almost every major buying decision in our lives. Good credit can help us get a good rate on a credit card, car loan or home mortgage. It can also help us when it comes time to sign an apartment lease agreement or maybe even get a new job. But how do you get good credit?

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Juliet

February 26, 2009 02:27:26 PM 2:27 PM

If you live in North America or any other country like UK and Australia which is based on financing, good credit will be everything. Because in these countries you finance everything from your car, your house, your business, etc. Good credit means whether you can finance or not and whether you can get good terms on financing if you approve for a loan. So it can save you tons of money during your life time.

Jenny

March 6, 2009 01:43:06 PM 1:43 PM

I think there cannot be a competition among good and bad when it comes to credit. Because good credit is what we need for so many things in our every day life. We want to buy a house or a car or anything big we need to have a good credit score.

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