A wide range of factors can impact your financial well-being, but one in particular — your credit score — is a crucial aspect. That's because your credit score directly affects your ability to secure loans and impacts your housing and job prospects. It also impacts the terms and rates you'll typically get on credit cards, personal loans or other types of loans, which has a big impact on how much you'll pay for the money you borrow.
So, if you notice that you're consistently offered loans or credit cards with high rates, it's a clear sign that your credit score needs improvement. Credit repair may lead to better terms with creditors and lenders over time, saving you money in the long run.Difficulty renting or leasingYour credit score isn't only crucial for obtaining credit; it also plays a role in various aspects of your life, including finding a place to live.