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:: Why you need to build credit

Find out why you need to build credit because without the credit history lenders will not lend you money when you need it

There are many lenders out there who want to give you money to buy what you need but unless you have a credit history, the money lenders have no way of knowing whether or not they should lend you money .

Why not you ask...

The moneylenders don't know if you will pay back the loan because you have no history showing that you've done it before.

The moneylenders don't know if you are responsible, they don't know if you will repay your debts, they don't know if your credit worthy.

The only reason the moneylender lends you his money is so that he can get his money back with interest.

Unless he knows that you will keep your promise to pay him back why would he lend you his money

Believe me...

If you want to buy the bigger things in life and you want to the moneylenders to loan you money, than you have to build your credit in order to prove your creditworthiness

 

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