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.
From lenders to landlords, to insurers and utility companies, and even employers… many entities and organizations check credit and credit worthiness before deciding to do business – or have a relationship of any kind – with you. Most often, they perform this check by asking for and receiving your credit score.
Your credit score is one of your greatest financial assets. If your credit score is high, you will have more financial opportunities, as well as lower rates and fees that will save you money. The big “mystery” however, is how to get and keep a high credit score. Well, if you want to get, maintain or restore a good credit…
By now, you likely understand the importance of good credit. Whether shopping for a new home or automobile – or just searching for the best deal on insurance – your credit score will likely influence not only your ability to get what you want but how much you pay for it now and over time. Bad credit habits or a bad payment history will resort in a low credit score.