Why Do You Need A Good Credit Score?

by The RinggitPlus Team

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A credit score is a measure of how creditworthy you are, or how likely you are to pay back a debt that you owe. It comes into play when you are applying for a credit facility from a financial institution, like a credit card or loan from a bank. The higher your credit score is, the more financially healthy your track records are.

But what exactly are the benefits of having a high credit rating? Here’s how a good credit score can make your life easier when you’re borrowing money from the bank.

Now that you know the importance of a good credit score, find out what yours is by getting a credit score report. If your credit score is good, keep it up! Continue being responsible with paying your bills, loan repayments, and credit facilities. If it’s a pretty bad rating, you need to focus on getting your debt in hand and limit yourself when it comes to overspending and overborrowing.

So, how do you find out what your credit score is? A Personal Credit Report Plus (PCRP) by RAM Credit Info ("RAMCI") will not only provide you information about your credit score, but also your banking information, trade references, litigation history, and other factors that can affect your credit rating. Once you have a bird’s eye view of your credit score and the reasons behind it, it’ll be much easier to take control of your credit rating and ultimately enjoy all the benefits of having a good credit score.

Get your FREE Personal Credit Report Plus (PCRP) here