Benefits of Excellent Credit Scores

Why is having a good credit score important when buying and financing a property? Costs and Options. Good credit scores serve as a pass into a world of VIP perks, superior products and opportunities. In many ways it is a measure of one’s creditworthiness based on past credit histories. Here are some of the few benefits of having a good credit score:

  • Access to more home buying options and loan products

  • Receive low interest rates on mortgage loans and credit cards

  • Better chance of loan approval

  • Give you more negotiating power

  • Get approved for higher limits

  • Qualify for better credit cards with higher limits and rewards

  • Pay less for insurance

  • Give an indication that you will make a financially responsible partner

The above list is not all inclusive. The list gives borrower an indication that maintaining a good credit score does have its perks and privileges.