Why you need Credit

• Buy a dream home. This means getting approved for a mortgage (unless you plan to save up hundreds of thousands of dollars). Until that day, you’ll still need good credit to be approved to rent a decent apartment.
• Get better insurance rates. Insurance companies consider your credit rating in determining your premiums.
• Receive an upgraded education, which usually means applying for student loans or financial aid that will need to be paid off after you graduate.
• Invest in your future so you’ll have a better chance of success. If you want to invest in real estate as part of your retirement income later, or start a business so you don’t have to work for someone else your whole life, you need to establish a good history of using credit.