Does this question win the 'Active Rain Stupid Question of the Day Award' ?
It's you life line. Your bread and butter. The air you breath. The clothes you wear. The car you drive. The home you live in. The financial mechanics of the world and the society you inhabit. It's your credit.
Having good credit is also having a good name for many. It's like having money in your bank account when you need it so you can buy a home, a car, a resort property, make an investment, refinance your current mortgage, send you kids to school, take a trip to Pompeii.
A good credit rating has absolutely nothing to do with life's circumstances or the character you possess, although in some circles it just might.
Your credit history is a reflection of your past and how you've responsibly dealt with the complexities of maintaining a good credit history, or succumbed to the calamity of failing to do so.
Having a poor credit score can ruin your chances of getting a loan or buying a home, or even renting one for that matter.
Your ability to repay the loans you've taken on the responsibility for, and your past repayment performance, is all there and reflects heavily upon your attitude about your financial obligations and the accompanying responsibilities that are attached them. From these details, a lender will assess whether or not your a credit-worthy individual, or a bad risk.
Most everything associated with your credit history is placed under the microscope and the way you repay your mortgage company, your department store, your revolving accounts and gas cards are picked to the bone.
Remember, pay your bills on time and avoid the late payment histories that follow you on your credit report. Collections, repossessions, bankruptcies and foreclosure can haunt you for a long time.
Establish a great credit history and demonstrate an excellent pattern of repayment and the lenders will welcome you with open arms.