3 easy ways to build credit fast are a must. Whether you’re buying a home, a car, or going back to school, you’ll probably need a loan which means you’ll definitely have to worry about your credit score. If you have a high credit score (700 or higher), you’re more likely to receive low interest rates and better repayment terms on any loans you apply to, whether they be for a home, car, or education.
On the other hand, if you have a low credit score (648 or under) any and all loans you apply to will either be outright rejected or approved with high interest rates and harsh penalties for missed or late payments. The only way to avoid a 13% interest rate on your newly-approved credit card is to start building your credit score fast.