Your credit score gives you buying power and determines how much you will pay for that buying power now and over time. Increasing your score just a few points will make a difference in both of those areas too. If your credit score is high enough, you’ll have no problem qualifying for lenders’ best rates on everything from credit cards to auto financing, home loans insurance and even small business loans should that be a goal or desire.
You may be surprised to note there are at least 7 elements worthy of consideration when you take out a new credit card. Of course, interest rate and balance transfer details are important. However, to judge a new credit card on just one or two options could easily result in a bad deal for you.