How Important Is Your Credit Card Score And History When You Apply For A Loan?

Your credit card history or score is going to matter a lot whether you are using a regular credit card or credit cards for no credit. This is because any lender or bank or financial institution in the market is going to first have a look at your credit reports and the relevant scores to determine whether you are even capable of paying back the loan or not. This they can find out very easily by assessing your previous transactions and the way you have responded to your outstanding payments.

Regardless of whether or not you are using credit cards for no annual fee, the bank is going to check your credit history and score to decide the terms of the loan and also the interest rate at which they will be willing to give you a loan for your needs. Any lender in the market is going to charge a higher rate of interest for a borrower that has a less than pleasant credit history to begin with.