Your credit is more than just a card in your wallet. Credit cards play a role in establishing your financial record known as credit scores. Credit is receiving a value before payment, based on the trust that payment will be made in the future.
In today’s world credit is essential, financial institutions use the concept of your credit score to decide to extend or not to extend your credit.
What determines Good Credit?
Good Credit is having a good reputation to pay back your loans. If you pay back your loans each month and on time your credit score and will improve. With good credit lenders trust that you will pay back what they loaned out to you. The more trust you have with lenders the more opportunities you have such as, lower payments and lower interest rates.