A person’s credit history is very important, and maintaining a credit score in good standing is very important as well. A credit score tracks whether you are more likely to be a good customer or a bad customer. Having a good credit score allowed you to borrow money easily from banks, buy a house, or move into a good apartment easily among other benefits. The higher your credit score, the more benefits and flexibility you’ll have available to you.
Having a good credit score alos allow you to get the best interest rates and terms when applying for an auto loan. If you have a bad credit score, then it’s a good chance they will deny you the opportunity to buy that new car, or tell you, you need someone with good credit to apply with you.
Today, various insurance companies also check credit scores to determine what rate to charge you. If your credit is not so good, it may mean higher interest rates, increased fees, and special charges. So good credit can lead to big savings on your insurance premiums year after year.