Johny blog

Credit as a source of happiness

You would normally associate credit with financial dealings such as applying for a bank loan or a mortgage but these days it matters in more ways that you imagined.

In the past, only in the process of lending to you would your credit be pulled, not anymore, these days your medical insurer might look at your credit rating amonst other things in deciding which premium to offer you. Your landlord might also use it to determine the likelihood of your keeping up the payment where as in the past they would have solely relied on your recommendations.

Credit can be a source of happiness in that, if you have good credit, there are few limits; you can buy things at low or interest free credit, you can shop at top stores etc. If you don't however, not only will you struggle to get a credit card with bad credit but if you're able to buy things on credit, it will be at much higher interest rates.

So try and do whatever you can to better your credit score, even if you dont need it now, it could be your source of happiness!