Credit 101

Lesson 3 : The Importance of Credit

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The Importance of Credit

Why is My Credit Score Important?

Your credit is your financial “reputation”.

Your credit score becomes an increasingly critical measure of your financial health as you go through life. From trying to get a car to buying a home, your credit score will be checked to determine if you are eligible for the purchase and what interest rate you will receive.

Renting or Buying home? Your credit matters.

Even if you’re not currently looking to buy, landlords check your credit score when you’re applying for an apartment lease. In some states, employers frequently run credit checks on prospective employees, especially those who would handle money.

You can’t achieve a great credit score overnight. You have to show that you can responsibly handle borrowed money over time. It’s important, therefore, to start building credit early so that you can put your best financial foot forward when it matters most.

Improve Your Credit Score