Credit matters when looking to buy a house, car, or any other pricey asset.
A person with good credit is considered low-risk and therefore has an easier time getting approved for a personal loan compared to high-risk borrowers.
Consumers with good credit may qualify for lower interest rates when borrowing money.
Consumers with good credit may obtain larger credit limits than those with poor credit.
Good credit can help you buy a house with a good mortgage rate or a car with low financing. Borrowing money to own a home or vehicle may come at a price that includes principal and interest.limits than those with poor credit.
Landlords who conduct credit checks might deny lease applications if a prospective tenant has bad credit.
Jobseekers can benefit from good credit, as some employers may consider a person’s credit score when making hiring decisions.
Law enforcement officers with good credit could gain privileged access to classified national security information and FBI facilities.