11 Benefits of a Great Credit Score

A great credit score is 750++ on all credit scoring models. Having such scores is an important part of living a MoneySmartLife.
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​Here are 11 benefits of having and maintaining great credit scores.

1. Lowest Interest Rates on Credit Cards, Loans, and Leases
2. Easier Approval for Rental Houses and Apartments
3. Better Car Insurance Rates
4. Get a Cell Phone on Contract with No Security Deposit
5. Avoid Security Deposits on Utilities
6. Bragging Rights
7. Get Better Interest and PMI Rates on Your Mortgage
8. Improve Your Chances of Getting Hired
9. Get Approved for Higher Credit Card Cash Advance and Credit Limits
   • Part of your safety net
   • The proportion of balance to limit is 30% of your score. An increased credit limit automatically lowers the proportion to limit.
10. More Negotiating Power on Financial Products terms and services
11. Increases Your Partnerships Potential

• It is hard to go it alone in life all the time. There are seasons in your life when you may want to form mutually beneficial partnerships with others. Having great credit scores can help you contribute to both personal and professional cooperative relationships. It allows you to both set and achieve higher standards.