Importance of Credit Score

As a student, you may have put your credit score on the back burner like yesterday’s leftovers, but it’s time to take it out of the fridge and seriously consider it! So buckle up, buttercup, and get ready to enter the wild world of credit card’s scores .

Whether you’re planning to apply for a loan, rent an apartment, or get a job after graduation, your score is an essential factor affecting your financial future.

So let’s decode the magical number determining whether you’re a trustworthy money borrower! 

What is a Credit Score?

Yes, we’re talking about your credit score, which ranges from 300 to 850 and reveals your creditworthiness. This article is your golden ticket to discover why it matters and how to boost it up.

Why does your credit score matter?

Your credit score is an essential factor that lenders, landlords, and even employers may consider when evaluating your financial responsibility.

Top 5 Reason:

Access to loans and credit: A high score can help you qualify and get better terms, if you ever need to take out a school loan, car loan, or mortgage. To be eligible for loans, you might require a high score. Or be forced to accept exorbitant interest rates and unfavorable terms.

Lower interest rates: A high score can help you get credit cards or loans with cheaper interest rates. It will eventually save you money over the long run. Even a small variation in interest rates can result in substantial savings over the course of a loan.

Rental applications: When renting an apartment or home, landlords may check your score to evaluate your financial responsibility. A good score can help you stand out as a reliable tenant, making you more likely to be approved for the apartment or home you want.

Employment opportunities: If you’re looking to land a gig with some financial responsibility, watch out! Some employers might sneak a peek at your credit history before they hire you. But don’t sweat it too much, because having a solid score could actually help you shine bright like a diamond in their eyes and increase your chances of snagging that job. So keep that credit history on fleek, and let the job offers roll in!

The better credit card offers: If you plan to use credit cards, having a good score can open up more options. You may be eligible for credit cards with lower interest rates, higher credit limits, and more rewards and benefits.

How can you improve your credit score?

Establishing good credit habits early on is essential to improve your score.

Top 5 tips to improve your credit score:

  • Make payments on time: Late payments can significantly impact your score, so always pay your bills on time.
  • Keep your credit utilization low: Keep your credit card balances below 30% of your available credit.
  • Check your credit report regularly: Review your credit report at least once a year to ensure there are no errors or fraudulent accounts.
  • Avoid opening too many new accounts: Opening too many new credit accounts at once can lower your score.
  • Build a positive credit history: Use credit responsibly and fully pay off balances to establish a positive credit history over time.


A good score is an essential part of your financial future. By establishing good credit habits early on, you can set yourself up for success and unlock opportunities for better loans, credit cards, and employment prospects. Don’t wait to build your score – it’s never too early.

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