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Why is Credit Important Video

Transcript: why-credit-is-important _720x404

There are two main reasons you should consider getting credit.

First, it lets you get things done. Life can sometimes catch you off balance, and credit can give you the financial flexibility to handle unexpected situations.

The second reason is just as important. When you use credit correctly, you build up a positive credit history. Your credit history is a record of how good you are at paying your bills on time, all in one place. It’s used by lenders and other companies to see how responsible you are with money.

Every time you get a new cell phone, buy a car, rent an apartment, or sometimes even apply for a job, there’s a good chance someone may be checking your credit history, so it’s really important to build it up, and keep it up.

When you stick to the path, that’s much easier to do, so stay tuned and learn more about how to build good credit.