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It's important only if you need to borrow money. If you use cash for everything, you really don't need credit, but you'd have to save enough cash for any big purchases.
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∙ 13y ago
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As a credit provider what do you see as the most important element in providing credit to people?
In my humble opinion, the most important element in providing credit is the personal relationship that develops between borrower and lender.
Why is credit important for business and consumers?
Credit is important for both businesses and consumers who are trying to get loans and lines of credit. Without good business or personal credit, you reduce the chances of being granted a business loan at reasonable interest rates.
Why is business credit important?
Business credit is important if you ever want to get a business loan or line of credit. Without good business credit, you reduce the chances of being granted a business loan at reasonable interest rates. It is important to establish business credit as a completely separate entity from your personal credit to help reduce the risk of having your personal credit and assets affected should the business go bankrupt or experience other financial turmoil.
What is a credit report and why is it important?
it is when you check your credit it shows you your score and tells you if it is good or bad and it is important because without it you could spend extra money on something you buy because you have a bad credit report score.
Does your credit score change monthly?
Your credit score changes about every month. It is updated with new credit applications, defaults and purchases. It is important to check your credit score often.
What are the important dimension of a firms credit policy?
The important dimensions of a firm's Credit policy are: 1. Credit standards 2. Credit period 3. Cash discount
Why is it important to memorize the debit and credit rules?
Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
Why are the three credit report agencies important?
The three credit report agencies are important because they provide report on your credit and if you encounter fraud, they are the agency that you should report to in order to prevent further damage on your credit card.
As a credit provider what do you see as the most important element in providing credit to people?
In my humble opinion, the most important element in providing credit is the personal relationship that develops between borrower and lender.
Why is credit important for business and consumers?
Credit is important for both businesses and consumers who are trying to get loans and lines of credit. Without good business or personal credit, you reduce the chances of being granted a business loan at reasonable interest rates.
Is credit score important to know when financing a vehicle?
Yes credit score is really important to know when you are trying to finance a vehicle and you can always get credit scores from a number of places like http://www.freecreditscore.com
Why is business credit important?
Business credit is important if you ever want to get a business loan or line of credit. Without good business credit, you reduce the chances of being granted a business loan at reasonable interest rates. It is important to establish business credit as a completely separate entity from your personal credit to help reduce the risk of having your personal credit and assets affected should the business go bankrupt or experience other financial turmoil.
Why the credit function is important to the bank?
The fees and interest on credit provide a bank with substantial income.
What is a credit report and why is it important?
it is when you check your credit it shows you your score and tells you if it is good or bad and it is important because without it you could spend extra money on something you buy because you have a bad credit report score.
What are the credit requirements to open an internet merchant account?
Merchant accounts are often given to individuals with no or poor credit ratings. However, the longer that you are in business and as your monthly charge volume grows, your credit rating becomes more important, and it is then important to have a good credit rating.
Why is it important to have a good credit?
Good credit is important because credit checks are becoming increasingly more common - to ensure the reliability of investors/customers/employees. For example, it is nearly impossible to rent an apartment, acquire a credit card or loan, or request services from a utility company without having your credit checked.
How important is your credit score when getting a car loan?
When one is trying to get a car loan, the importance of the credit score is mostly important when calculating the interest of the loan. A better credit score means a lower interest rate.
