Good Credit versus Bad Credit Good credit and bad credit are the talk of the financial world. If you hold the key to good credit you will have the chance to take advantages of good credit loans. If you don’t possess this key, then you have bad credit. Good credit and bad credit can determine many financial issues that come up during your lifetime.

Good Credit Good credit vs. bad credit is also a topic of interest for many individuals and determines the option to obtain a good loan. If you have a good credit standing, meaning your credit history, monthly payments and account balances are in good shape, you will have opportunities to get great interest rates and lower monthly payments. However, good credit can turn in to bad credit in a flash and greatly diminish the opportunity to take advantage of the good credit benefits.

Bad Credit Bad credit is unfortunately an easy turn to take. If your payments are not made on time or you rack up huge balances, you may have turned what was once good credit into bad credit. Your credit score will plummet with missed payments and high balances. The opportunity to receive low interest rates will disappear; you might be offered a bad credit loan or credit card, but the interest rate and annual fees will be much higher.

Keep Good Credit It is best to maintain your credit as good as possible. Good credit versus bad credit is a fight we all must endure, but the best option is to not bite off more than you can chew. Do not damage your good credit with credit card balances you could not afford in the first place. There is no need to take this step. If you don’t have the credit card, you cannot pay late or run up the balance. It is simple as that. Then your credit history will remain good.