Why Should You Care About Your Credit Score?
Updated on June 28, 2019
Your credit score is more than just a 3-digit number. It’s one of the most important aspects of your financial life. Whether you’re applying for a new credit card, purchasing a home, getting insurance, applying for a job, or looking to drive off the lot in a new car, your credit score will be considered.
Those who have a high credit score will reach their financial goals a lot faster than those who don’t. This is because a high credit score allows you to be approved for loans with low-interest rates that save you money over time. They also help you get jobs, cheaper insurance, and opportunities to rent the best apartments and homes.
On the other hand, those with low credit scores will get the exact opposite, causing them to lose out on thousands of dollars throughout their life. But why is this?
In a nutshell, your credit score measures how likely you are to pay your bills on time. Lenders, employers, and landlords use your credit score to determine if you can manage your money responsibly or not. If your credit score shows you may not pay your bills on time, you will be seen as a risky borrower, employee, and tenant.
If you want to prevent this and ensure your credit score helps you reach your financial goals instead of holding you back, you’ll want to get whyze and learn the key details of your score. Let’s get started!