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You Must Keep Your Credit Score High and Credit Report Spotless

A Good Credit Score and Great Credit is Required to Build Wealth

Your credit is one of the most important resources you will ever have when saving money. Basically, the better your credit score, the lower your risk profile and therefore the lower your interest rates will be. More importantly, good credit is of the utmost importance when buying a house or taking any kind of loan. And even more importantly, if you ever get into a bind or run into a cash liquidity problem, having good credit will vastly help you raise the funds you need at reasonable prices. If you haven't looked at your credit report in a while, you should do so soon.

Good credit will save you money on things you never thought of. For example, insurance companies now give rates based on credit scores. They figure the better you are managing your credit, the better you'll manage your car, home or boat. You'll also get better credit card rates and of course loan rates.

The next rule is to rationalize your spending.