2007-01-26 23:45:14 · 4 answers · asked by Ashish 1 in Business & Finance ➔ Credit
Everyone needs credit these days to do anything. You can't even rent a car or a hotel room without a credit card. I would say that the wealthy need credit so that they can receive better rates on loans and things that they might need just like everyone else. Good credit is a sign of trustworthiness.
2007-01-26 23:49:34 · answer #1 · answered by Sabina 5 · 0⤊ 0⤋
Nobody needs credit, You need savings and cash.
If you want to learn what millionaire's do, read:
The Millionaire Next Door by Stanley
Stanley interviewed a lot of millionaire's and none of them said they built their wealthy by borrowing money. Majority built business slowly using mostly cash and living WAY below their means.
2007-01-27 09:11:43 · answer #2 · answered by mldjay 5 · 0⤊ 0⤋
part of you credit score is derrived from how much moey is accessible to you. High credit card limits mean you have access to that much buying leverage
2007-01-27 07:51:13 · answer #3 · answered by a_raggedy_andy 2 · 0⤊ 0⤋
any platinum card....in the business world..Amex...because it used to be the sign of prestige but now Amex sucks so any platinum card will do.
2007-01-27 07:49:43 · answer #4 · answered by Clock Watcher 4 · 0⤊ 0⤋