Why is Credit Important?
In today's age of information and computers, your credit
report is available to creditors almost instantanously at
the push of a button. Credit agencies dont really think of
you as a person; but as a credit file or a number.
Credit grantors use various mathamatical formulas to determine
your credit rating. This is based on factors such as how well
you have paid debts in the past, if you've missed payments,
your length of employment, how long you've lived in the same
place, and many other factors. . Your credit history is a
measure of how reliable you are when it comes to paying your
bills. Your credit rating established over time by your previous
A credit report which includes information such as your address
and employment history, repayment history and salaery histroy,
represents your financial habits in the past 10 years or so.
A good credit rating can be difficult to obtain, and very
easy to ruin.