A good credit score is important for anyone to have. Loans are a necessary part of life for most of us. Building a solid credit history and maintaining a high credit score can have a dramatic impact on your quality of life now and in the future when you're considering applying for a loan or even a prepaid debit card. It also can limit your chances on that job promotion, your auto insurance rate.
Brand New Toyota Camry
66 Month Term
Credit Score: 730
Interest Rate: 1.99%
Total Interest Paid: $1,302.39
Total Payments: $24,302.39
Credit Score: 599
Interest Rate: 14.99%
Total Interest Paid: $10,921.44
Total Payments: $33,921.44
Person B pays $9,616.05 MORE
for the exact same car & price!
The same thing happens with your credit cards, mortgage etc.
Cleaning up your credit will lower your bills & can save hundreds of thousands of dollars!