Credit News

Top 5 Places to Find the Best Motorcycle Loans at Low Rates

#best rate loans

Top 5 Places to Find the Best Motorcycle Loans

Searching the Internet for the best motorcycle loans can be frustrating. We put together this guide on where to find low interest loans to help our fellow riders get financing quickly.

There are an overwhelming amount of loan options available on the market. There are a handful of loans that will work as an affordable motorcycle financing solution for almost anyone. But only a few offer the best motorcycle loans.

[Editor s Note: Take your first steps towards owning a motorcycle today! Apply online now with only your basic information. Click here to get up to $25,000 ]

Here we cover some of the most common places to find motorcycle loans at low interest rates and attractive terms. While interest rates will vary greatly between each of these lenders it is important for borrowers to consider their other benefits as well. These may include the required down payment, additional fees, penalties, loan term and even customer service.

The Best Motorcycle Loans are available from:

  • Local Banks
  • Credit Unions
  • Peer to Peer Lending Sites
  • Dealer Financing
  • Online Lenders

Motorcycle Loans From Local Banks

Photo Credit: SG2012

In the past the best motorcycle loans were readily available from local banks at attractive interest rates. With a large customer base to work with many community banks were able to guarantee personal loans for motorcycle purchases at low interest rates.

Today local banks have become extremely conservative when working with borrowers looking for motorcycle loans.

There are still many banks willing to finance motorcycle purchases but at higher than normal interest rates. Most local bank branches will also require substantial collateral or a cash down payment to secure the loan.

For some motorcycle enthusiasts coming up with a large down payment may be practically impossible. Fortunately there are alternative motorcycle financing options like Peer to Peer Lending that require no down payment.

Consider Peer to Peer Lending for Motorcycle Financing

What is peer to peer lending? It’s a social lending network that connects borrowers and investors. Unlike a bank, peer to peer lending site have extremely low overhead and offer attractive interest rates to borrowers. Best of all they require no collateral to secure the loan. This makes it a perfect place to find the financing online.

For anyone that is unfamiliar with social lending we have put together a in-depth guide on Peer to Peer Lending. The concept of personal lending has exploded over the last few years. Many experts in the finance industry are expecting the market for personal loans to continue growing rapidly.

[ IMPORTANT UPDATE: It s time to get the money you deserve! Up to $25,000 is available to you today. No down payment required. Click here to apply online now! ]

Benefits of Motorcycle Loans from Peer to Peer Lending Sites:

  • Low Interest Rates
  • Easy Application Process
  • No Down Payment
  • Excellent Customer Service
  • Short Term Repayment Period

Credit Unions Offer Motorcycle Loans

Borrowers have recently started flocking towards Credit Unions when looking for personal financing. The reasons are simple. They offer low interest rates and are genuinely concerned about their customers needs.

We believe that borrowers looking for a motorcycle loan should turn to credit unions for financing after considering online options first.

Dealer Financing is an Option for Motorcycle Loans

Many riders have enjoyed the benefits of dealer financing. Often dealers are able to negotiate incredible deals when arranging financing through them. This is another opportunity to find the best motorcycle loans with straightforward terms and low interest rates.

It needs to be mentioned that going through a dealer for motorcycle financing is usually the most expensive route. This happens when a borrower fails to get pre-approved for a motorcycle loan before shopping. Only after spotting their perfect bike will a consumer begin to discuss financing options with a dealer.

More often than not the dealer comes out ahead and the buyer is left to face the financial consequences for the next 5 or 10 years.

Motorcycle Loans are Offered by Online Lenders, Too!

One of our final picks in our countdown of the best places to find motorcycle loans is online lenders. While it may be last on our list, online lenders typically offer the best interest rates and loan terms.

Unlike banks, credit unions or dealerships most online lenders have extremely low overhead. This translates into low interest rates for borrowers.

For consumers that hate paperwork and the complex application process that is normally associated with motorcycle loans, they should consider online lenders first. Many online lender offer similar benefits to peer to peer lending sites. However they may still require a down payment or collateral to secure the loan.

Who Qualifies for the Best Motorcycle Loan Rates?

The most attractive motorcycle financing options are usually reserved for borrowers with good to excellent credit.

For the borrowers that have poor credit history there are also many bad credit motorcycle loans on the market. These have higher interest rates and stricter approval terms but may be the perfect option for borrower that can’t live without a motorcycle.

Borrowers looking for financing will need to consider many factors before applying for a loan. They should take into account their financial situation and compare multiple motorcycle loans before shopping for their next bike.

Today – s SBA Loan Rates: Commercial Real Estate Loans

#sba loan rates

Today’s SBA Loan Rates

Jan. 18, 2011

We are going to break down the current SBA loan rates. into two categories, 1. on SBA 7a loans and 2. on SBA 504 loans. Both are very different so we will describe what the current rates are separately, and give a brief description of the programs themselves.

SBA Loan Rates on 7a Loans

The vast majority of banks tie their 7a loans to Prime Rate, which is currently at 3.25%. The banks margin is normally 2.75%, so the Effective Rate for the borrower is currently at 6%. It is very uncommon in this market for a bank to offer an effective rate less than 6%. Most banks are reluctant to lend, so if they do they are currently maxing out their margin.

Also, the SBA 7a loan. is used for the purchase or refinance of commercial real estate, business goodwill, equipment, debt consolidation (limited) and working capital. The loan is almost always amortized over 25 years and the rate floats with Prime, adjusting quarterly. Prepayment penalty is 5% year one, 3% year 2, 1% year 3, gone thereafter. Loan amounts can go up to $5,000,000.

SBA Loan Rates on 504 Loans

The SBA 504 loan. has two different loans and therefore 2 different rates. The first lien position loan is a conventional bank loan, so its terms and rates vary from one lender to the next. By the most common loan would be a 5 year fixed on either a 20 or 25 year amortization schedule. For example, our 504 loans are tied to the LIBOR 5 Year Swap, which is currently at 2.15%. The margin depends on the financial strength of the borrower as well as the loan size, but the Effective Rate is currently between 5.8% and 6.2%, on a 25 year amortization schedule. Theses loan also come in a 1, 3 or 10 year fixed rates, on a 15, 20 or 25 year amortization schedules.

The second lien loan is the SBA loan also referred to as the CDC loan, it. s a 20 year fixed loan on a 20 year amortization schedule. The current debenture rate is 5.79%.

Go here to see the most updated commercial loan rates. including the 504 debenture rates, conventional commercial mortgage and SBA 7a loan rates.

Title Loans Online: Fast Cash loans against the title of your car.

#title loans online

you could have your money in 48 hrs!

3 easy steps for getting cash for your car title

Getting Approved for a Loan is Faster and Easier than ever before with the help of the above application.  It just takes Five Minutes to fill out, and a Local Agent will call you to help you with the rest of the process.  In fact, you don’t even have to leave your home!

Unlike Pawn Shops, we will give you the Best Deal for your vehicle loan, and you will even get to keep your car.  We also work with most major banks including Wells Fargo, Chase, Bank of America, and many more.  A local representative is always happy to answer any questions that you might have at 305-555-5555 .

Satisfied customers speak about title loans

We work with most major banks – apply now!

Apply now and get your cash delivered within a few hours! To start your application click here!

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Title Loans California

#pink slip loans

Title Loans California

Quick Cash from Title Loans in California

If you are in need of fast cash, consider getting a bad credit loan with Title Loans California. Simply complete our easy online loan form on the left. Car title loans in California are fast, affordable and easy to obtain. You may even get your money within 24 hours! There are only a few requirements; your car must be paid off or close to being paid off, and it must be in decent condition. If your car pre-qualifies on our website, then it is very possible to have cash in hand within one day! Fast cash is only a few clicks away. Get started with a 100% FREE estimate on a car title loan in California by finishing the online form on this page.

Bad Credit Loans in California Made Easy

Many California residents choose to apply for pink slip loans with Title Loans in California, because our process is fast and easy, plus we give our clients 42 months to pay off their loan. It is easy to get approved, even if you bad credit. Title loans in California are based on your car, not your credit history. If the car is paid off and in good condition, then it is likely that you will get approved for a bad credit loan from us. Just use the vehicle’s title as collateral for cash. No credit background checks are necessary when getting a pink slip loan in California.

The time has come to see what we can offer you. As one of the leading car title loan companies in the industry, we know what makes our customers satisfied. In addition to an easy online application, we make getting car title loans in CA easy for you! There are so many advantages when working with us:

  • Full access to your car
  • No hidden fees or penalties for paying early
  • Flexible payment plans
  • Cash in as little as 24 hours
  • Competitive interest rates

With title loans in California, you can finally get the money you need in a timely manner. Apply today, and get your California title loan right away. We take pride in providing quality customer service, so you can be sure that your experience with us will be good one.

Title Loans AZ

#cash now loans

Visit Our CASH 1 Loans Locations for Title Loans AZ – Phoenix, Mesa, Tempe and Glendale

CASH 1 makes getting a loan fast and simple. Get started by applying online, over the phone, or at any one of our Arizona CASH 1 store locations. After filling out the application you will receive an estimated loan amount and approval from one of our loan officers. Then you can bring your vehicle by one of our stores for a brief inspection, sign your documents, and drive away with cash.

CASH 1 East University

CUSTOMER NOTICE: Personal Loans, Installment Loans, Title Loans, and Title Equity Loans should be used for short-term financial needs only, not as a long-term financial solution. Customers with credit difficulties should seek credit counseling before entering into any loan transaction..

REQUIREMENTS: Approval depends upon meeting legal, regulatory and underwriting requirements. CASH 1 and third party lenders may, at their discretion, verify application information by using national databases, including but not limited to Teletrack and Clarity, that may provide information from one or more national credit bureaus. CASH 1 or third party lenders may take this information into consideration in the approval process. Due to state and verification requirements, not all applicants for online loans may be eligible for instant approval by CASH 1 or third party lenders. You may be required to submit additional documents due to state law and qualification criteria. If you have defaulted on past transactions, you may be declined for a cash advance from CASH 1.

PRODUCTS SERVICES: Products and services offered to customers may vary based on customer eligibility and applicable state or federal law. Actual loan amounts vary. The availability of loans and extensions may vary. Installment Title Loans are subject to minimum auto value requirements. See Rates and Fees for more specific information and requirements. CASH 1 and third-party lender funds are generally deposited via ACH for delivery the next business day if approved by 7:00 PM CT.

WHERE WE ARE LOCATED: CASH 1 is currently operating in Arizona, Nevada, and Texas. CASH 1 is not a lender in all states. In Texas, CASH 1 is a Credit Access Business between you and a third-party lender. Restrictions apply.

COLLECTIONS DEFAULT: Failure to make timely payments may result in NSF or late fees. If your account becomes severely delinquent, it may be turned over to a 3rd party collection agency which could impact your credit score. Loans do not automatically renew without prior approval. If you renew or rolloveR&Rdquo; your loan, your principal balance may not be reduced, depending on the state, and you will owe additional fees and/or interest.

Title Loans in Arizona

#car title loans

Title Loans In Arizona

What is a title loan?

Title loans are fast and easy short term cash loans secured by your motor vehicle.

Can I still drive my car with a title loan from Cash Time?

Absolutely. Cash Time allows you to keep and drive your vehicle while you pay off your title loan.

What if I have an old car with high mileage?

Don t worry, there are no year or mileage limits with our Arizona title loans.

How much money can I get with a Cash Time title loan?

Cash Time can offer title loans for as little as $100 or as high as $100,000 depending on your application and your vehicle s value.

Why Choose Cash Time?

Industry Leadership Cash Time Loan Centers has been providing title loans in Arizona for over 16 years.

Professional Customer Service Cash Time is an accredited business with the Arizona Better Business Bureau and boasts an A-Rating.

On the Spot Approval Loan approval takes less than 30 minutes, and we will give you a check that you can cash with us before you leave.

Flexible Repayment Plans Get Arizona s best title loan rates and flexible payment plans. You may choose from multiple cash loan models to ensure your payment works for your needs.

Convenient Hours and Locations Cash Time has 23 locations in and around the Phoenix and Tucson metro areas. All of our locations are open 7 days a week for your convenience. Feel free to walk in anytime or schedule a visit for the fastest title loans in Arizona.

No Repayment Penalty With an auto title loan from Cash Time Loan Centers, you are never charged a fee for paying off your loan early.

Two Cash Loan Programs Cash Time Loan Centers offer personal loans (some call them registration loans) and auto title loans in Arizona to fit all of your cash loan needs.

More Information


Proudly Offering Arizona Cash Loans In The Following Areas

Phoenix. Scottsdale. Tucson. Mesa. Tempe. Glendale, Chandler, Flagstaff, Peoria, Gilbert. Sedona, Prescott, Yuma, Surprise. Goodyear, Avondale, Queen Creek, San Tan Valley, Florence, Kingman, Casa Grande, Lake Havasu City, Sierra Vista, Tombstone, Payson, Bullhead City, Nogales, Bisbee, Jerome, Williams, Douglas, Page, Fort Huachuca, Winslow, Buckeye, Maricopa, Oro Valley, Prescott Valley, Apache Junction, Marana, El Mirage, Kingman, Queen Creek, San Luis, Sahuarita, Fountain Hills, Eloy, Somerton, Paradise Valley, Coolidge, Cottonwood, Camp Verde, Chino Valley, Show Low, Safford, Tolleson, Wickenburg, Youngtown, South Tucson, Guadalupe, Litchfield Park, Benson, Holbrook, Cave Creek, Eagar, Thatcher, Colorado City, Pinetop-Lakeside, Taylor, Clarkdale, Dewey-Humbolt, Willcox, Quartzsite, St. Johns, Carefree, Clifton, Parker, Wellton, Superior, Pima, Star Valley, Springerville, Kearny, Gila Bend, Miami, Mammoth, Fredonia, Patagonia, Duncan, Hayden, Winkelman, Tusayan, and Globe.

Title Loans Online

#car title loan

LoanSource Car Title Loans

A LoanSource car title loan is the perfect solution for getting cash quickly and conveniently. We can approve you fast for a title loan and get you the cash in about 30 minutes. With LoanSource, it doesn’t matter if you have good credit, bad credit, or no credit at all because your car title is your credit. Plus, to make it even more convenient for you, you get to keep driving your vehicle throughout the course of the loan. LoanSource focuses on getting you as much cash as you need while getting it to you as quickly as possible. Getting a title loan with LoanSource really is that easy and that’s why so many people come to us every day to help get them the cash they need.

How Do I Get A Car Title Loan With LoanSource?

LoanSource has taken the title loan process to a whole new level of simplicity. We have removed all the guess work out of choosing the right lender. LoanSource will instantly connect you with the title loan company that makes the most sense for your individual set of needs. Whether you re looking to get the most cash possible, easy to manage interest rates, a flexible payment plan, or just wanting to do a completely online title loan where you don’t have to leave the comfort of your own home, LoanSource has you covered.  To get started, just fill out the short form at the top of this page and LoanSource will start working for you. We’ll immediately review your information then instantly match you up with the best title loan lender for you based on your specific needs. Your lender match will show up on the screen in front of you and a representative from your lender will call you within a few minutes. You can then complete the title loan process in one of two ways: 1) Stay on the phone with your lender rep and complete the title loan process completely online or 2) You may choose to complete the title loan at any one of our 1,400+ convenient locations. If you choose the second option, your rep will give you all the details you need to visit a local store of the lender with whom you ve been matched. The representative will also let the store you ve chosen to visit know you’re coming and provide them will all of your information ahead of time so that your car title loan experience goes as quickly and smoothly as possible. All you need to be approved for a car title loan with LoanSource is a clear (or lien-free) car title, a government-issued ID, and proof of income.  So, what are you waiting for? Our team of highly trained representatives is ready help you get the cash you need today!

Title Loan Benefits With LoanSource

A LoanSource car title loan has plenty of advantages:

  • Absolutely all credit accepted
  • Fast and easy approval process
  • Cash in about 30 minutes
  • No car insurance requirement
  • Any make   model accepted
  • You get to keep driving your car
  • Affordable payment methods

* Minimum and maximum available amounts vary by state: Ohio max $5,000; Illinois max $4,000; Mississippi max $2,500; Tennessee max $2,500; Texas max (select stores) $1,340; California min $2,500.

** Signature and personal loans are currently only available in Georgia and Florida. Account approval requires satisfaction of all loan eligibility requirements, including a credit inquiry, and, if applicable, motor vehicle appraisal.

*** To be approved for a title loan or pawn, you must be at least 18 years of age (19 in Alabama). Account approval subject to vehicle inspection, appraisal, and, if applicable, a credit check. Void where prohibited. Additional terms and conditions may apply.

LoanSource does not offer any loan products but does refer potential customers to its affiliates (“Affiliates”) that do offer various loan products. The annual percentage rate on loan products offered by Affiliates can range from 10% to 295%. APRs vary based on type of loan, lender, duration of loan, amount of loan, and other factors. The network of lenders offered by LoanSource adhere to applicable laws and regulations. While these lenders expect timely payments from their customers, they do attempt to setup loan payments that are manageable. Nonpayment on credit-based loan products offered by Affiliates may result in negative credit reporting to the major credit bureaus; however, timely payments may result in positive credit reporting to the major credit bureaus. Some Affiliates do not report credit to the major credit bureaus. Additional interest or fees may be incurred on late payments depending on state law. Affiliates may pursue repossession of assets securing loans and/or may pursue any legal means of collecting an unsecured loan, but prefer to work with you to keep you on a payment plan. None of the loan products offered by Affiliates automatically renew. LoanSource may be paid lead generation fees by Affiliates from time to time.

TheLoanMaster Loans – Bad Credit

#loans with no credit

Second Chance Online Checking Account

Emergency Fast Cash Loan, No Credit Check up to $1,500

Borrowing Money

All of us need to borrow money from time to time and there are many ways to do this, some of them considerably more expensive than others. We offer useful and informative articles that will help you find your way through the consumer finance maze and take informed decisions. Learn about loans, payday loans, Annual Percentage Rate (APR), find out just what the figures on your credit card statement really mean.

Consider all the options for funding your major purchases, and find out how to borrow what you need at the lowest possible interest rates. Find out how good a deal a home improvement loan can be, and find out why you should avoid spending on your credit card, or involving yourself in any other form of high-interest debt, if you have cheaper options.

Some of the most important issues you should consider when borrowing money are what you need the money for, how much time you need to repay it and if you can afford to repay it. Secondary but important issues when borrowing money are the collateral or security for the loan, the interest rate and the late charges.

You can save a good amount of money on any loan by improving your credit report thus raising your credit score before you finance. Do you know your credit score? The banks sure do! You can get a copy of your credit report and credit score from

The ultimate guide to picking the best student loans for you

#best student loans

The ultimate guide to picking the best student loans for you


As college tuition costs rise, more students are taking out loans to help pay for school. Of students graduating college in 2013, 69% had student loans, with an average debt amount of $28,400 per student, according to the Institute for College Access Success. At one in five schools, that amount was at least 10% higher.

Grappling with significant debt as you enter the real world poses financial challenges, especially if you have trouble finding a well-paying job after graduation. This makes it crucial to borrow only what you need and to choose the best loans for your situation. The student loan process may seem overwhelming at first, so use this guide to better understand how it works and become familiar with the types of loans available.

The student loan process

Start by completing the Free Application for Federal Student Aid. available online You must complete it each year to be eligible for federal loans, grants and scholarships.

The government sends a copy to the schools to which you’re applying. The school’s financial aid office determines your aid package and will send you a financial aid award letter .

Jodi Okun, owner of College Financial Aid Advisors, says this letter has two sections: one for gift aid, containing free grants and scholarships (which students shouldn’t turn down), and one for loans.

You may be offered one or more federal loans. “You will be allowed to accept or decline any of the aid on the award letter,” says Vicki Hendrickson, director of financial services at The University of Tulsa.

To borrow responsibly, “look to the lowest-cost options first and maximize grants, scholarships, family contributions, state aid or institutional aid,” Hendrickson says.

RELATED: The fast-forward way to pay off your student loans

Consider accepting federal work study or tuition payment plans, if available. Next, go for any federal loans offered. If those options combined won’t cover all costs, then pursue credit-based loans. We’ll go into more detail on loan types below.

If you were offered federal loans and want to accept them, you must go online and activate them, Okun says. Then you’ll sign a master promissory note detailing the loans’ terms and complete brief online loan counseling. The money then goes from the government to your college. However, if you have a credit from a loan on your school bill, meaning you accepted more loans than were needed for tuition, you can get a refund and use it for living expenses, Okun says.

Too much jargon? Check out NerdScholar’s Finance Glossary for Students .

Types of federal loans

Federal loans have fixed interest rates that are typically lower than private loans. Note that all except PLUS loans have annual borrowing limits.

  • Federal Perkins Loans: Subsidized loans with low interest rates intended only for students with significant financial need. Not all schools offer them. Interest isn’t charged if a student is in school half time, and there’s a grace period of nine months before repayment is required.
  • Direct subsidized loans (aka Subsidized Stafford Loans): For students with demonstrated financial need. Interest isn’t charged while a student is in school or during deferment periods, and payments aren’t required until after graduation.
  • Direct unsubsidized loans (aka Unsubsidized Stafford Loans). Not based on financial need; your school decides how much you can borrow by factoring in any other financial aid and attendance costs. Interest is charged at all times and capitalizes during school and deferment periods, though you can defer payments until graduation.
  • Direct PLUS Loans: Credit-based, unsubsidized loans for graduate/professional students (called Grad PLUS loans) and parents of dependent undergraduates (called Parent PLUS loans) who need more money than offered by federal loans. Interest rates are higher, and there is no borrowing limit.

Selecting private loans

When federal aid and family contributions combined won’t cover everything, a small percentage of students take out private loans to fill in the gaps. Experts recommend using loan calculators (like the ones on to determine exactly how much you need and what your repayment plan will look like.

While students can choose any private lender, Hendrickson says, some schools provide a preferred lenders list. She adds that most student borrowers need to apply with a cosigner because they lack credit. This actually benefits you: A qualified cosigner may speed up the application process and give the borrower a better chance of approval and help lower the interest rate,” she says.

When comparing private loans, students should consider many factors, including fees, interest rates and terms, says Andrew Hopkins, vice president of Discover Student Loans. Some lenders charge origination fees, and interest rates for private loans are not fixed as they are for federal loans, he adds.

Hopkins also recommends looking at the number and amount of monthly payments because they will affect the total cost of your loan. Also, find out if you’re allowed to repay loans while in school; doing so can reduce the cost of the loan.

Hendrickson says borrowers should also compare requirements for eligibility, because some private loans require you attend school a certain amount of hours or make certain grades. She also recommends looking for interest rate discounts and learning about repayment options.

Student loans may be complicated, but learning how the process works and which loans are ideal for you is a small price to pay for money to fund your college education.

Emily Starbuck Crone writes for NerdWallet. a website that helps consumers make smarter financial decisions. NerdWallet is a USA TODAY content partner providing general news, commentary and coverage from around the Web. Its content is produced independently of  USA TODAY.

The truth about hard-money loans

#hard money loans

The truth about hard-money loans

Q: What is a “hard money” loan?

Hard-money lenders do not rely on the creditworthiness of the borrower. Instead, they look to the value of the property. The lender wants to make sure that if the borrower defaults, there will be sufficient equity in the property over and above the amount of the loan. Accordingly, you will not get a hard-money loan of 80 or 90 percent loan to value; typically, they will range from 50 to 70 percent loan to value.

Such loans are considered loans of last resort. If you are unable to get a conventional loan from a bank or mortgage broker, you may be forced to negotiate with a hard-money lender, who often are private individuals lending money from pension plans.

And beware: Those loans are more expensive and often have more onerous terms than the standard mortgage backed by the federal government, Fannie Mae or Freddie Mac.

Who typically gets such a loan? If you have bought a house and haven’t yet sold your existing one, you might get a hard-money bridge loan. They are typically short-term. Other users are homeowners with bad credit but lots of equity in the home who want to avoid foreclosure. Unfortunately, from my experience, all too often the hard-money lender ends up owning the property.

There are many legitimate hard-money lenders. However, as in every profession or industry, there are some bad apples. Some hard-money lenders are loan sharks whose sole objective is to take your house away from you.

If you need a short-term loan and decide to confront a hard-money lender, have your attorney review all of the legal documents the lender will ask you to sign. You want the money, but you don’t want to lose your valuable home.

Q: We have a time share that we want to deed back to the resort, but they want $1,750 to take back the deed. We are in our 70s and want to know if we can just give the deed back without paying the fee.

Can they put a lien on our house? We don’t care about credit ratings, since we pay cash for everything.

A: You cannot just “give away” the deed. It has to be accepted by the resort and recorded among the land records in the county where the property is located.

If the resort will take back the deed and relieve you from any and all further obligations, I would jump at that opportunity. Obviously, I would try to negotiate a lower buyout or try to work out a payment schedule. However, from the many readers who have time-share problems, your situation is unusual.

I do want to comment about your statement that you don’t care about your credit rating. You may pay everything in cash and be a multimillionaire, but there may come a time when you will need credit, and a poor credit rating can, and will, haunt you for the rest of your life.