If you have a good credit score, you're likely responsible with your finances. That means that you make your payments on time and keep your balances low.
A high credit score is very important if you need to borrow money. It can help you get a loan at a better interest rate and terms.
Your payment history is one of the biggest factors in your credit score, and if you're frequently late on your payments, you should work to correct the situation.
One way to do that is to obtain your credit reports free of charge once a year. Then, take the time to investigate any mistakes.
Having a good credit score makes it easier to obtain new credit when you need it, and it can help you qualify for lower mortgage rates.
While it may be difficult to get a perfect credit score, many credit overachievers try to maintain a good score. They aim for the high 700s or even higher,
which puts them in the high-end category of most credit scoring models. You can also work to improve your score by requesting your credit report and investigating errors.