You probably already know how important your credit score is to lenders. When you apply for credit, your credit score helps lenders determine whether or not you are able to repay the loan based on your past financial performance. With a higher score, you qualify for better interest rates, lower payments, higher credit limits, and more types of credit than you would with a lower score.
Did you also know that your credit score can make it easier to rent an apartment, qualify for a good cell phone plan, and pay less for insurance? A higher score can save you hundreds, if not thousands, of dollars every year, which can add up to significant savings.
Not only can it hurt you financially, but many employers now check a potential employee's credit as part of the hiring decision. A low credit score could cost you a chance at your dream job.
There are no tricks or quick fixes to getting a good score. However, you can raise your score over time by demonstrating that you consistently manage your credit responsibly. Here are 10 things you can do to improve your credit score: