Accumulating credits have never been a good practice. If someone is feeding you the notion that credits are okay, that it is now an accepted part of finances and a very common practice then stay as far away as possible from that person. Credit is bad, it has always been and will always be. Now another bad thing about having credits is the bad reputation. It is often the case that people with bad credit history are hounded by credit card companies, loan companies and banks. But the thing is, today utility companies and even employers also frown upon people with low credit scores. This is essentially why you should take care of your credit score and undergo some credit repair if necessary. I do understand, however, that sometimes having credits is an unavoidable circumstance. An emergency medical expense or your company goes under are just some of the instances that you need to borrow some money for a while in order to live on the daily expenses. But the idea here is borrowing money only on a temporary basis. You need to pay what has been owed as quickly as you can you won’t get too low of a credit score.
Posted on: Thu, 08 Jan 2015 22:07:44 +0000
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