i know that a lot of people are having problems with their credit. although the use of credit card is not widely used here in the philippines, in other rich countries like united states and canada, have a good credit history is very important.
my sister tells me that in order for you to purchase a house in canada you will need either cash (of course) or at least have a good credit standing. in canada, most of people use credit cards in purchasing expensive things or even with just groceries. It’s not that they don’t have any cash, it’s just that the more you use your credit card, the more you will be granted of a higher credit limit. and with high credit limit, you can buy a house or a car with just giving down payment.
and one of the things that would qualify you in owning a house or a car is being a good payer. they will run a credit report or background of some sort. if they see that there is no inconsistency on how you pay, more likely they will approve your application. so for some people who wants to buy a house or own any property, there are lot of free credit report sites out there. before you apply, try to check first if you have a good credit standing.
but there are it’s cons or pros in using credit card. a lot of people are having problems with other people using their credit card and that they have to pay for it. it is called identity theft. even though you can file a complaint if this happens to you and have you’re a credit repair. It’s like a robbery without you knowing it. people will use you in getting the luxuries that they want. so be careful in using your credit cards, be keen to notice people around you. a paper shredder is also important. once you received your monthly bill, don’t forget to shred the statement just to be safe.
ciao
kaikai
