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What are some of the advantages and disadvantages of having credit?
Wiki User
∙ 7y ago
The disadvantages (which can cause money problems) is that credit is still too easy to gain. Credit is good provided you can pay back in time and can absorb the interest over the term. Those who take out credit they can't afford, soon realise they are in a downward spiral to an over whelming that they have no chance to get out off - often leading to the loss their home.
Wiki User
∙ 7y ago
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What are some advantages of having credit?
some advantages of having good credit is the ability to get more credit. With good credit you are eligible for credit cards, mortgages, and any thing else that requires you to borrow money. With bad credit you can't get loans and you usually pay more for the things you want.
What are some advantages of having good credit?
some advantages of having good credit is the ability to get more credit. With good credit you are eligible for credit cards, mortgages, and any thing else that requires you to borrow money. With bad credit you can't get loans and you usually pay more for the things you want.
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