Thank you Capital One for sponsoring this post! All opinions are my own and were not directed by Capital One. To learn more about CreditWise from Capital One, visit: www.capitalone.com/creditwise
Credit is kind of our lifeline in the real world – a good credit score can help you buy or lease a car, buy or rent a house/apartment, get approved for a credit card, etc. You basically need credit to function. With a new baby here, I feel like paying attention to both of our credit scores is more important than ever. We want to make sure our little one has every available opportunity both now and in the future. That’s why it’s important to understand your credit score and what it does for you. So today I am partnering with CreditWise® from Capital One® to show you just that.
Why A Good Credit Score Is So Important
To me, a credit score tells you exactly where you stand. If you have an excellent credit score, you probably have a pretty good handle on your finances (think paying your bills on time and keeping your account balances in check). It has nothing to do with how much money you have, but it’s an important number to want to improve and maintain.
Even though Andrew and I both have excellent credit, we want to make sure we are doing anything and everything for our little guy’s future. We want him to grow up understanding the importance of financial responsibilities, and when it’s time for him to go out in the world we want him to be far more prepared than I was.
Here are a few reasons why a good credit score is so important:
- It helps with life’s big – and small – moments. If you have great credit, it sets you up for financial success. I don’t mean to go crazy with spending, I just mean that you hold the power of what you can buy. A house, a car, a new purse (I’m guilty of this!)… It’s all up to you to improve, manage, and protect your credit so these opportunities are available to you!
- It helped put me in charge of my destiny. Do you want to go back to school and get a Master’s degree? Maybe you can’t work full time and go to school so you’re looking to take out student loans. If you have great credit, you can probably get loans easier and with a lower interest rate. Trust me on this as someone who is paying off student loans: you want as low of a rate as humanly possible! While my and Andrew’s plan will always be to pay for our kid’s college, you never know what the future may hold. If we raise him to have a good sense of responsibility with finances and lead by example with excellent credit, we hope he will be far better off.
- It gives me confidence: Being financially independent is truly beautiful, and my good credit score is part of that. Some of my best days were the days when I was first completely financially independent. I can only hope our child and any future children feel that sense of independence and how amazing it can be!
With CreditWise, I can continuously monitor my credit and stay on top of where it goes. There is even a credit simulator to check different scenarios that may either improve or hurt your credit score, depending on different factors. I find these features so useful, and it has really helped me understand what goes into my credit score as I keep looking to improve it. Millions of CreditWise users have seen their score improve by 20 points or more – I am working to do the same!
Why is a good credit score important to YOU and what will you do to improve it? Let me know in the comments and make sure to download the app now to start keeping on top of your credit today!