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Last Updated on by Noni May
Your credit score matters a lot more than you might realize. If you have a bad credit history, it can be hard to correct, and it can affect several areas of your life. It’s not just when you need to borrow money that it will matter. It’s taken into account for other things, and it could even affect your relationships. Improving your score could have some great benefits.
It’s not just owning a home for which your credit score matters. When you rent, you can also have your credit history checked. Some people and companies are unwilling to rent to someone who isn’t great at managing their money, so a good credit score is better.
If you ever want to get financing to buy a car, a squeaky clean credit score will help you out. Taking out a loan for a new car is usually necessary unless you’ve managed to save a few thousand that you’ve earmarked especially. A good credit score will help with your financing options.
Ever thought about starting a business? If you think you might want to in the future, you might also want to apply for small business funding. To be approved, you’ll need to show that your personal credit score is up to scratch.
You don’t want to be too limited when it comes to your mortgage options. More choices to select from helps you save money and get the best deal. The better your credit score is, the pickier you can be.
Refi Guide Minimum Credit Score to Qualify for Home Loans
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