North Carolina

We offer our knowledge and insight all around the country, but we specifically do a lot of work in the North Carolina area. With huge cities like Raleigh and Charlotte, NC is a hotbed for business and whether it be business or personal, credit scores matter to the large majority of us. It’s nobody’s responsibility but our own to build up our credit scores to set ourselves up for future success.

What IS Good Credit?

Good Credit credit scoreBasically, credit is the ability to borrow money from someone with the understanding that you’ll pay it back later, generally with some sort of interest payment or fee associated. Lenders are only going to give to people that they feel confident will pay them back in full and on time, otherwise, they would be silly to lend the money to you if they want to make a real profit.

Credit history is gauged by your overall credit score and by the details on your credit report. Your credit history is summarized in files known as credit reports, compiled by three independent credit bureaus—Experian, TransUnion®, and Equifax®. All creditors should be voluntarily reporting your borrowing and repayment actions to the credit bureaus, whether they be credit unions, banks credit card issuers, or any other creditors nobody is exempt or going to purposefully not report your activities.

Why Does Good Credit Matter?

small business loansTruly the reasons that you want to have good credit are nearly endless. We could list things all day but we’ll keep it towards the most important things. You need to have good credit if you ever plan to borrow money for a major purchase, things like a car or home. Many people also like to take advantage of the convenience and protection a credit card offers, and you can’t get one of those without a good credit score.

A higher score can mean better interest rates on credit cards and loans, plus many card companies reserve the best rewards for those with great credit. A lot of people check credit scores, it could include landlords, insurance companies, utility companies, even potential employers may use information from credit reports in a hiring decision. Think of credit as a tool to help you buy big things you really need now, that you are then going to pay for over time. Establishing and building up good credit is a key element to good financial health. If you really want your credit to do well go ahead and do your best to make those payments in full every month.