Some of the things I've learned...

Some of the things that I've learned when I move here in the US is that credit history is one of the important thing that you have to protect. Back in the Philippines I am not really sure if the credit history is being track down. As far as I know, as long as you have a stable and tenure job and you are making a good income, at the same time you can make the down payment then that's good enough. But over here in the US, having an excellent credit will actually give you a lot of chance in order to make a loan.

I realized this when it was time to buy a new car. And it was so hard to get a loan with a low interest rate because my husband credit history was bad... as in really bad. And I can't help him since I don't have any credit history yet. Not even a single credit card in my name. And since his credit history was... let's just say something that you would not dream of having, we have to take a loan for an interest rate of about 15%. So we were paying for a vehicle that is breaking us financially because of the rate but in a way, it was helping my husband's credit history because I was the one managing the payment and I never let is slide to make sure we can build a good payment history for it.

Then after a while, when it was time to purchase our house, it was still very difficult since I don;t really have any loan under my name, just a few credit cards that I was maintaining just so I can have a credit history. Good thing that realtor that we have that time was good with debt consolidation. He helps us eliminate some of the information from my husband's credit history. And it really helps us. So when it was time to get rid of the high paying rate vehicle, we were able to get a car loan for as low as 5% rate. Imagine from a 15% to a 5%.

I guess it really pays a lot when you are paying your bills on time and managing your money well.

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