How important is credit
In today's life, you simply cannot do without credit. If you wish to buy a home, you need a mortgage loan; for buying a brand-new car you require an auto loan. Even if you want to go for higher studies you may require a student’s loan. Credit has therefore become a part of our day to day life.
All the credit you take and later repay are recorded in a statement known as credit report and your credit score or the FICO score is calculated on the basis of this report. The credit score determines whether or not you are eligible for a loan. Even if you are eligible for a loan, you may get a lower rate of interest if you have a good credit score. The higher your credit score, the more creditworthy you are in the eyes of the creditor. So its important that you maintain a good credit score.
About Getcreditnews.com
Getcreditnews.com aims to provide you with the latest updates (credit news) from the credit industry. Our objective is to help you to learn the basics of credit and to build up an impressive credit profile. A good credit history helps you to improve your credit score. Thus we have developed an article section from where you can gain knowledge on how to improve your credit history. So keep visiting our site and update yourself with the latest happenings in the industry.
Recent credit news
- Goldman Junk Credit Nightmare Shared With Morgan Stanley Fades - Bloomberg
- Credit-Default Swap Overhaul in Europe Signals Central Clearing - Bloomberg
- Australia's Credit Unions Join Distressed Mortgage Relief Plan - Bloomberg
- Credit Score Shell Game - Washington Post
- Financial collapse of luxury-resort owners - San Francisco Chronicle
- How your credit card bill hits you - Chicago Sun-Times
- Get the most out of the $8000 first-time-homebuyer tax credit - Detroit Free Press
- A Credit Squeeze for Small-Business Owners - New York Times
- Investors Bet on Payments via Cellphone - New York Times