Alfredo G. Jewett

Many people can only afford to buy a house or a car with a little credit to help them by.  But, you need credit to get credit. You get how that works?

To get credit, you need to give proof that you have previously availed of credit so that lenders can evaluate how good or bad a risk you are to lend money to. Not many people understand how credit works and how important their credit score and credit history is. Not until they make a loan for a house or car or anything they need to borrow money in advance for do they realize the impact of their credit report.

Your credit score which shows in your credit report and credit history records all your past borrowings and your ability to pay what you borrowed. Everytime you make any kind of loan this record is used to decide whether you can be approved of a loan, how much your interest rate is and how long a time you can be given to repay the loan.

Most financial advisors will tell you that it is never too early to build a good credit history, but it’s also never too late to start as well. This credit guide will answer the very basic questions about:

·         what credit is
·         how credit works
·         what it takes to achieve good credit history
·         how your credit rating affects your life

This starting guide will be especially helpful to the beginner who is new to using credit and is starting to establish a credit history so that he can build good credit scores from the very beginning and take advantage of his good credit score to buy major purchases in this life!