Why do I need a credit history?

Your credit history and credit score are the means by which most U.S. lenders judge your repayment reliability and trustworthiness. Not having a credit history makes it very difficult for them to evaluate your creditworthiness – which in turn usually means less credit available to you and at higher rates. Having a positive credit and payment history means that you will likely have greater access to more credit at a lower cost.

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DISCLAIMER - Subject to credit approval, loans are made by Bank of Lake Mills or MPOWER Financing, PBC. Bank of Lake Mills does not have an ownership interest in MPOWER Financing. Neither MPOWER Financing nor Bank of Lake Mills is affiliated with the school you attended or are attending. Bank of Lake Mills is Member FDIC. None of the information contained in this website constitutes a recommendation, solicitation or offer by MPOWER Financing or its affiliates to buy or sell any securities or other financial instruments or other assets or provide any investment advice or service.