How Important Is Credit Score For You
Credit ratings and scores are extremely important for all our financial commitments. A good credit score would not only help a person in acquiring a loan for his dire needs but also helps in having a higher credit card limit.
Yes, the trend today is to go cashless and most of us use either our debit or credit cards for shopping purposes.
We must have heard people talking and warning people about how dangerous or perilous is a credit card and that it might put you in troubles when not used properly. Of course, this is a fact but remember not all credit card holders have suffered this situation.
Credits need to be within limits. Here a question might arise as to how few credit cards are given more than the affordable limits? Generally, cards are not issued without scrutinizing the credit scores but if there is one then it should be from an agency which is in the market only to make people paupers.
So it is always safe to go for a credit card after securing a good credit score or go for one with a limit matching our scores for with such restricted limits we would stay secured.
Even with such liberties, people sometimes cross their limits and this is when they welcome problems for themselves. A credit card is one that helps us in a cashless purchase. The holder should always have an eye on the amount being spent and make sure that he does not cross the limits offered to him because the interest amount that he is paying for the limits offered to him would become double or even three times more for crossing the limits.