Being financially diligent allows you to have more money in the bank to obtain confidence in your ability to handle emergencies, and to achieve a high credit score. While many recent graduates may not (yet) fully understand the benefits of good credit, in time it will become evident how much easier life can be with a positive credit score. Here are some of the top advantages of maintaining a good credit score:

Approval for renting a house or apartment – Landlords or real estate professionals use credit scores to screen tenants. A bad credit score can get you rejected, while a good credit score can provide the landlord with some semblance of security and trust.

Low interest rates on loans – With a good credit score, it is much easier to get approved for a lower interest rate when buying property. These savings can add up to a few hundred dollars a month, equating to thousands of dollars over the course of a 30-year mortgage loan.

An increase on credit card limits and lower interest rates– Your borrowing capacity can grow when you prove to Buying A New Home | KAIKUcreditors that you are a responsible cardholder who can manage a higher limit. Credit card companies are also more inclined to reduce interest rates for clients whom they feel confident will pay bills on time. Another option is to use a Kaiku card, as it allows extra diligence in regards to spending within your budget. Users may arrange direct deposit, withdraw cash from ATMs, and get money transfers from friends who also use KAIKU.

Negotiating power –You can reference a high credit score when applying for a mortgage, apartment, vacation home, or loan. You may even cite other offers you’ve gotten from similar companies due to your credit score. You want to be in the position where multiple organizations are vying for your business.

Find out your credit score by using a site such as Credit Karma, just note there may be a fee.