People ask us all the time, what’s so great about Addvantage Credit™? How does your store credit account help me? Why should I try out the AddvantageUSA credit program? What will I get out of it?
Why Use Addvantage Credit
You get the products you want now and you establish personal credit worthiness for major purchases in the future.
Part I – The AddvantageUSA credit program or store credit account helps your credit rating the same way that any major credit card or department store account helps you. Think for a second or two about how that works.
- You want/need to buy something
- You don’t want to/can’t afford to pay cash
- The credit program lends you money
- You buy now and make monthly payments
- Your credit becomes established
Because we have credit offers thrown at us from every direction all the time, we tend to lose appreciation of the choices and convenience having sound credit adds to our lives. Here are two easy examples that show the benefits of establishing sound credit.
Example 1: remodeling a bedroom. You need a mattress, pillows, bedding, and a rug. You only have enough savings to pay for bedding, but with your credit account you borrow enough to get all four items now, and you pay for them over time.
Example 2: new small business. You are going into the home remodeling, handyman business. You need four important power tools: a drill, a circular saw, a reciprocating saw, and a nail gun. You are worried that you will not have enough cash on hand if you use your savings to pay for all of these tools. But you need them to earn a living in your new venture. With an Addvantage Credit account you can get all four now and begin using them to make new income.
In each of these examples, credit changes your opportunities. Without credit you would have to buy each one as you saved the money, or wait much longer until you had saved enough to pay for all at once.
Part II – Most of us have heard the old cliché, “It takes credit to get credit.” If you are just starting out, you may find it very difficult to get credit. You have no credit history for lenders to look at. They can’t easily estimate the risk they take when they lend you money.
If you’ve been through a financial crisis and lost your good credit standing for one reason or another, you may also find it hard to get credit again. Your credit report only shows the past, and the past contains all the negative information that was reported after your injury, divorce, illness, unemployment or other problem.
You can’t make new credit history unless you have credit. If you can’t borrow money from a company that reports your credit history, then you can’t improve your credit report. AddvantageUSA gives you the opportunity to make new credit history. Our company puts an emphasis on serving those who are starting out or starting over.
We are willing to let you borrow the money for your purchase. This means you get a foot in the ‘credit door’ that would not have been open to you before.
Part III – Don’t blow it. We report the good and the bad. If you use your credit wisely, and if you make your payments on time the way you are supposed to do it, then you will have the chance to create new payment history on your credit reports. Good payment history will definitely improve your credit reputation. That reputation is measured by your credit score. The higher it is, the better your reputation. On the other hand, late payments, defaults, or payments in amounts smaller than the amount due will create negative credit history and bring down your credit score.
AddvantageUSA encourages you to take advantage of the opportunity we offer. We also strongly encourage you to be sensible. Borrow wisely. Don’t use borrowed money to buy a bunch of things you don’t need. Before you make a purchase, remind yourself, “I will have to pay for this over several months. Do I really want it now, can I really afford those payments? Or would it be better to wait a while?” Answering these questions honestly is a key factor in using credit to improve your financial opportunities.