Benefits like cash back rebates and fraud protection are provided by credit cards. But if used improperly, credit cards can result in debt, interest fees, and credit ruin.
Your chances of getting a loan approved at a reduced interest rate are better the higher your score and the better your demonstrated ability to make payments on time. Over the course of the loan, this could result in interest savings of hundreds or even thousands of dollars.
Benefits like cash back rebates and fraud protection are provided by credit cards. But if used improperly, credit cards can result in debt, interest fees, and credit ruin.
Contrary to what you might believe, having bad credit can have far-reaching effects. A poor credit history can make it more difficult to find homes and obtain certain services, in addition to resulting in higher interest rates and fewer loan possibilities. In some situations, it may work against you when looking for work.
To learn more about positive and negative credit refer to:
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