Having good credit is very important and allows you to obtain a car loan, rent an apartment, set up utility accounts (gas, light, water, etc.), open a cell phone account, buy a home, and obtain a good job. The better your credit rating, the lower the interest rate will be on credit accounts that you open in your name. This means that you will pay less interest and not have to pay as much money in the long run.
For your information:
- An excellent credit rating is between: 750-840
- A good credit rating is between: 660-749
- A fair credit rating is between: 620-659
- A poor credit rating is between: 340-619