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You will be surprised as to why having a good credit score is critical to your life.

9 Benefits of Having a

Good Credit Score

You can survive with bad credit, but it is not always easy and definitely not cheap. Having a good credit score will help you save money and make your life a lot easier. If you are looking for inspiration to improve your credit score or for reasons that you need to keep your good credit, are great benefits here having a good credit score.

  1. Get a cell phone contract without a deposit. Another disadvantage of having a bad credit rating is that mobile phone service providers can't give you a contract. Instead, you have one of these pay-as-you-go plans or have a co-signer for your contract. People with good credit to avoid paying a deposit. Remember, cellphones report to the credit bureau!

  2. Lower financing rates when buying a vehicle. If you are in the market for a new car and thinking of buying, you can have a bargaining power when you show your credit score high. Some dealers will be happy to offer a lower than average financing rates because they know you have to repay the loan on time. A credit history tells the dealer that you are a responsible borrower.

  3. Mortgages and refinancing better rates and higher amounts. If you are buying with 5-20% down, scores over 680 can borrow more. Rules...

  4. Easier approval for properties and apartments for rent. A bad credit rating can seriously damage your chances of getting approved to rent an apartment. Many landlords check your credit to make sure your not a serial late payer.

  5. Avoid security deposits on utilities. These deposits are sometimes $100 to $ 200 and a huge disadvantage if you move. A good credit score means that you do not have to pay a deposit when you establish a utility service to transfer your name or service to another location.

  6. Remarkable credit card offers. Credit-savvy consumers know that it pays to use credit cards reward as long as they pay the balance each month. The best reward for individuals with excellent credit often offer the most attractive points of rewards, gifts, cash back offers and low introductory rates. While earning this bonus is nice, make sure not to spend too much or take a balance on these cards. Remember to keep smart spending habits you have a great credit rating in the first place.

  7. Get a job. It may seem odd to think that your credit can affect your ability to get a job but the truth is that more and more employers ask to review your credit to decide to hire you. People with good credit tend to be more trustworthy and responsible and these are qualities sought after by employers. So having good credit can really help get a better job.

  8. Make major purchases such as appliances or furniture. With good credit, you can easily benefit from better credit cards and / or credit lines will allow you to make important purchases and pay them back over time.

  9. Able to qualify for a higher loan. Lenders will look at your credit report before deciding to borrow money. If you have good credit, you are more likely not only to get the loan you need but also to get a better (lower) interest rate and terms.


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