In many countries, including Australia, your credit score is extremely important. It is something that you should take care of. If you don’t, getting a loan or a new credit is almost impossible. Furthermore, getting a phone, cable or gas line hooked up in your home can be difficult to do. And even if you are qualified to do the job, a low credit score can ruin it all for you because there are also certain companies that take a look at your credit score first before they even hire you.
Your credit score is also analysed by creditors, such as banks and credit card companies. Just try to imagine that you need to get a loan to start your own business. Like we’ve said, with a low or bad credit score, you have a lesser chance of getting that loan approved or you may get it approved but with high interest rates.
When you apply for a credit card, the same thing happens. Credit card companies or banks that issue credit cards will first take a look at your credit score before they can get your application approved. A high credit score is of course a lot more advantageous as you have a greater chance of getting the best credit card deals with a lot of features and also with low interest rates for your every purchase using a certain credit card.
To learn more about how you can improve your credit score, click here: http://time.com/money/2791958/how-to-improve-credit-score