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Building Your Credit – Should You Even Bother?

Everyone’s concerned with building their credit these days, but should they be? I mean, what are we actually doing? We’re borrowing money so we can get a good score, so that we can then borrow more money… And how do we get wealthy in the mix of all of this?

Most don’t…

So naturally, we should avoid credit cards and ignore our credit score entirely, right?

Not so fast…

Building Your Credit – Should You Even Bother?

If the world didn’t care at all about our credit score, then yes, I’d be right there with you. I’d say let it go to zero and never borrow money again. BUT, unfortunately, the world revolves around the credit score these days.

While we don’t necessarily want to drive up our credit score to buy a boat, car, or cottage on credit. All those items should be taken care of with cash. However, consider the following reasons why you should probably care about credit – at least, there are the reasons I care about my credit.

building your credit score

1) Landing a Job

Employers cannot legally pull your credit score, but they can pull your credit report – which basically shows all the same information, but just no number. If you have a poor credit history or no credit history, this could hurt your chances at getting that job of your dreams.

2) Making Traveling Easy

Renting a car is a breeze if you have a credit card. But, if you vow to do without credit cards and cut them all up, you’ll probably run into some road blocks at many of the large rental car chains. It seems dumb, but it’s the truth.

And, if the company allows you to use your debit card, they’ll probably make you put down a massive deposit to make sure they’re going to get paid. It’s all a bit ridiculous, but that’s just the way life is. Instead of messing around with the rental car companies, I’d much rather just carry my one credit card around and use it with ease.

Related: What If I Had a Zero Credit Score?

3) Keeping Your Insurance Low

If you have low or no credit, your car and home insurance are higher than they need to be. But, if you watch your credit score and keep building your credit, you’ll notice when you shop around for new insurance that all the rates will be unbelievably lower. In today’s society, a high credit score means that your character is high, which might be completely false…but this is what they go by so you may as well keep your credit score up.

4) Get a Low Rate on a Home Mortgage

While I pretty much hate all debt, getting that first mortgage is the only time I say it’s okay. And, when you apply for the mortgage, you really want to get the best rates possible because nobody wants all of their money going to interest instead of the principle! Keep your credit score up and your loan rates should be crazy good. So good that you’ll be able to pay off your house even faster! 🙂

Be Responsible With Your Credit

Instead of doing without credit entirely, why not just decide to use a credit card once in a while for bigger purchases that you’re going to make anyway? This way you won’t be enticed into debt by using your card repeatedly, and you’ll still earn some rewards points along the way. Visit (my affiliate partner) to find a rewards card that’s right for you.

What do you think? Will you keep building your credit?



My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

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