Credit as an Asset

WHY DO YOU NEED CREDIT?

• People with good credit will save roughly $250,000 on average in interest and fees throughout their working lives.
• Having good credit increases your ability to purchase a home, start or expand a business, take out student loans, and build asset wealth.
• Credit buffers against financial shocks so that you don’t have to use costly alternatives to weather unexpected expenses or missed income.
• Your credit can affect your access to things not even related to credit, such as utilities, cell phone, rental housing, and employment.