4 reasons why you need one

4 reasons why you need one


Here’s a question that lands in my inbox or slides into my direct messages on Instagram every time I talk about the importance of building a strong credit history and score.

“But I thought I should try not to have a credit score at all?”

Best I can gather, this line of thinking comes from personal finance experts who refer to a credit score as a “debt score.”This attitude avoids all shades of gray when it comes to credit history. And it fails to acknowledge that you can build a healthy score without paying a penny in interest. 

Credit Score Poor written on a small chalkboard lying on a cluttered desk

You’ll need a loan someday

It would be just swell if we could all make it through life without ever borrowing a penny from lenders. Everyone could buy cars and finance college from their bank accounts and put down cash for a home. But that’s not feasible for millions of Americans. At some point, most people need to take out a loan. (And sometimes it’s because the interest rate is so low it makes more sense to have the money in the market than buy the house or car in cash!) 


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By Javier Manning

Javier has been in the field of content writing for almost 8 Years as he hails from the Biotechnology background. The edifying articles portray her craving towards language. His keen hobby of reading technological innovations related books or articles has sown the seed of being a well-versed editor with the current scenario of numerous industry verticals. He is one of the valuable assets to this publication. The Industry News Press has awarded him with a senior editors post based on his skillful performance to date.