Does having a good credit report matter?

If you have a credit score that falls within the “excellent” range, you will often have access to interest rates and payment conditions that are more favorable than those available to those with lower credit scores.

This is true even if the idea of having a perfect credit score seems appealing. If you have a strong credit score, you will nearly always be eligible for the lowest interest rates, and you will pay lesser financing costs on credit card balances and loans. If you reduce the amount of interest you have to pay each month, you will pay off your debt faster and have more money available for your other costs.

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