If you have a good credit score, youll almost always qualify for the best interest rates, and youll pay lower finance charges on credit card balances and loans. The less money you pay in interest, the faster youll pay off the debt and the more money you have for other expenses.

Is good credit attractive?

Having more school debt didnt hurt the attractiveness of the person as much as having greater car or credit card debt, LendingTree found. Nearly a quarter of Americans in a separate TransUnion survey said a good credit score makes someone more attractive.

Why is it good to have good credit?

When you have a good credit score, youre more likely to meet lending approval guidelines and borrow money when you need it most, explains McClary. This can help if youre ever in a pinch and need to open a credit card. Youre more likely to qualify for a 0% APR card like the Citi Simplicity® Card.

How can credit hurt you?

A poor credit history can have wider-ranging consequences than you might think. Not only will a spotty credit report lead to higher interest rates and fewer loan options; it can also make it harder to find housing and acquire certain services. In some cases it can count against you in a job hunt.

How does a poor credit score affect you?

A poor credit history can have wider-ranging consequences than you might think. Not only will a spotty credit report lead to higher interest rates and fewer loan options; it can also make it harder to find housing and acquire certain services. In some cases it can count against you in a job hunt.

What is the best way to get your credit score up?

Steps to Improve Your Credit ScoresBuild Your Credit File. Dont Miss Payments. Catch Up On Past-Due Accounts. Pay Down Revolving Account Balances. Limit How Often You Apply for New Accounts.