For example, you just bought a house or a car and you’re not planning on making any big purchases in the next several years. You think that now you can ignore your credit for a while. But if you need to buy home or auto insurance, a good credit score will help you get a better rate. Almost all major insurers now use credit to set prices, and a bad credit score could mean you pay hundreds of dollars more per year than you need to.
Another reason is a great job opportunity. When you are interviewed for a position of trust your credit score is viewed as an indication of your level of responsibility managing finances and is easily compared against other job candidates, providing a quantifiable measurement for the hiring decision. It’s an imperfect measurement but allows a hiring manager to view information beyond your resume and interview as well as allows a direct comparison to other candidates.
Also, sometimes there is an unexpected need to borrow money. What if your car engine broke down? Or a roof of your house began to leak and needs replacing? You didn’t expect large expenses and therefore you have to borrow. When you do, you want to make sure your credit is up to snuff so you get the best interest rate possible.
It's not all the reasons why you need a good credit. That's why I recommend spending your time to check your credit report for errors or fraudulent activity at least two to three times a year. There are several popular online services where you can do it. I use https://www.banks.com/ because they include the most vital credit score information in my credit reports so I can see my credit profile the same way a bank or employer would.
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