Why is it important for me to pay my bills on time?
It is important for you to pay your bills on time to avoid extra charges and to protect your credit rating. If you do not pay your bills on time, you will end up paying more than you owe because of late fees and finances charges.
Credit reporting agencies keep a record of who you owe, how much you owe, and if you pay your bills on time. This record is your credit report. When you apply for credit (such as a loan or credit card), a creditor will check your credit report. If you pay your bills on time, you will be able to get the credit you need at a reasonable cost. If you pay your bills late it will be harder for you to get credit and you may pay more for it. Find out more about credit and credit reports
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