Question
Went Establishing credit early can help with wick loan apprevals Higher credit card limits Avoiding yearly credit checks Getting better interest rates
Answer
4.3
(327 Votes)
Millie
Master · Tutor for 5 years
Answer
Quick approvals, Higher credit card limits, Getting better interest rates.
Explanation
## Step 1: Understanding the question is the first step. The question is asking about the benefits of establishing credit early. ## Step 2: Let's analyze each option:A. "Quick approvals": Establishing credit early can indeed lead to quicker approvals for loans or credit cards. This is because a longer credit history gives lenders more information to assess your creditworthiness.B. "Higher credit card limits": This is also a potential benefit of establishing credit early. Lenders may be more willing to give you a higher credit limit if you have a long history of managing credit responsibly.C. "Avoiding yearly credit checks": This option is not directly related to establishing credit early. Yearly credit checks are often performed by lenders or landlords to assess your current financial situation, and having a long credit history does not necessarily exempt you from these checks.D. "Getting better interest rates": This is another potential benefit of establishing credit early. Lenders often offer better interest rates to borrowers with a long, positive credit history because they are seen as less risky.## Step 3: Based on the analysis above, we can conclude that establishing credit early can help with quick approvals, higher credit card limits, and getting better interest rates. However, it does not directly help with avoiding yearly credit checks.