Why is it important to establish a positive credit history

Advanced Placement (AP)

2 answers:

Bezzdna [24]4 years ago

5 0

Answer:

Basically, your credit history is important because lenders, insurers, employers, and others may use it to assess how you manage financial responsibilities. ... Your credit history determines your ability to obtain credit. Your credit history determines the terms of credit granted, such as the interest rate you will pay.

Explanation:poop

kvv77 [185]4 years ago

5 0

I have not studied this topic, but, from what I know, establishing a positive credit history is important simply so you can buy things.

For example, if you bought a foreclosed house and need to remodel it, the bank will grant you a loan Only If you have good credit.

Another example would be when you buy your first car. If you pay in store for the car, you will need a loan. The bank will look at your credit to see if you are capable of paying back the money you borrowed.

A simple thing to gain good credit and trust is to pay bills and send them in on time.

Hope that in some way my answer helped.

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