I'm a college student who got a credit card a little less than a year ago. I spend a lot (around $700 a month) and always pay back the total in full before the due date. My bank has increased my credit line three times since because of my good credit.
So are there any additional advantages to having a good credit score than easily getting approved for credit cards and getting large credit lines? Does it also project to any type of loans (i.e. it is easier to get approved for a car loan with a lower interest rate) or something?
2007-03-14 11:29:47 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
I agree with moonman.
Not only will good credit get you better interest rates, it has many other perks one of which moonman mentioned about renting. It also will get you a lower rate on your vehicle insurance, better job opportunities (yes you can be denied a job opportunity for poor credit or little credit history).
Good scores will help with basically anything credit/money related.
2007-03-14 11:59:04 · answer #1 · answered by echo 7 · 1⤊ 0⤋
For Finance and credit solutions I always recommend this website where you can find all the solutions. http://your-finance.us/index.html?src=iFE31ZnU26KUS
RE :What are the benefits of having a good credit score?
I'm a college student who got a credit card a little less than a year ago. I spend a lot (around $700 a month) and always pay back the total in full before the due date. My bank has increased my credit line three times since because of my good credit.
So are there any additional advantages to having a good credit score than easily getting approved for credit cards and getting large credit lines? Does it also project to any type of loans (i.e. it is easier to get approved for a car loan with a lower interest rate) or something?
Follow 5 answers
2016-10-06 00:41:18 · answer #2 · answered by Buffy 6 · 0⤊ 0⤋
It will always make borrowing money easier and cheaper. Especially on home and automobile loans. Many programs for home loans are only open to those with very high credit. It also can help when renting.
2007-03-14 11:37:06 · answer #3 · answered by moonman 6 · 3⤊ 0⤋
Lower interest rate is probably the favorite, but there's also the allure of being able to walk into someplace like a car dealership, and have them bend over backwards for you because they want your business. They always want your business when you walk in the door, but once they see stellar credit, it becomes more of a fight. In laymen's terms, it gives you negotiating power on prices of cars and such things.
2007-03-14 11:55:00 · answer #4 · answered by Krista B 6 · 2⤊ 0⤋
I went all over the internet and came upon a lot of spam. After all this site was usefull for me: financial-care.info-
RE What are the benefits of having a good credit score?
I'm a college student who got a credit card a little less than a year ago. I spend a lot (around $700 a month) and always pay back the total in full before the due date. My bank ...show more
2014-09-07 02:54:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋