When you think of needing a good credit score, the first thing that comes to mind is buying a home. Next is buying a car, and third is probably the ability to get a credit card.It’s true, a good score will help you in all those areas. Not only will it make you eligible for a home, a car, or a new credit card, it will mean that you will be granted a lower interest rate than someone with poor credit. Your buying power will be larger, because less of your money will be drained off to pay interest.Just think, if you borrow $30,000 for a new car and pay just 1% more interest than your neighbor, you’ll spend an extra $300 per year - $25 per month that you could be using for other things - just on interest. If you pay 2% more, that’s an extra $50 per month. Of course, the lender will probably let you stretch your payments over more years, so your payment might be the same as your neighbors, but you’ll pay it for an extra one, two, or three years.That doesn’t sound like fun at all, does it?But that’s not all. Your credit […]

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