Real Ways Your Credit Score Affects Your Quality of Life

Credit is not a subject that is to be trifled with. Credit can either enhance your life, or it can ruin it. When you’re young, you’ll have to start from the bottom of the credit ladder and work your way up. This is going to make it challenging to do certain things in life, as will be discussed a little later.


It’s best that you start building your credit score from as young an age as possible, and to do this, you can either go to your bank and establish a line of credit, or you can start using credit cards and build your credit organically by making purchases on that card and being diligent at paying them off.

If you do have credit cards, or you’ve already qualified for a loan for school, a car, or your first home, you’re going to want to figure out your finances now so that you can live the highest quality of life possible and that has a lot to do with your credit score. Here are 3 ways credit score affects your quality of life:

Credit Determines Where You Can Live

While your credit qualifies you for loans, it also determines what other people are willing to do for you. Landlords are taking a big risk when they rent their property to you. They have to know that you’re going to make your payments every month.

A landlord will ask to look at your credit because it’s a reflection of how you do with finances. If they see that you need to fix your credit, they’ll be less likely to take a gamble on you and let you live in their apartment or their home or rent out their office space. Lesser quality apartment often equates to a lesser quality neighborhood, which means life is more dangerous for you and your kids and you’re living a lesser quality life.

Credit Qualifies You For Loans

The higher your credit score, the easier it’s going to be for you to be approved for loans. Nobody wants to give money to a person they’re not sure they’re going to be able to get it back from. If you don’t build credit young, you’re going to go into school not being able to solidify funding.

A simple way to build credit, as mentioned before, is by using credit cards and make your payments every month. By the time you’re ready to purchase a car or a home, you’ll have build enough credit to get a loan. Loans allow you to move forward in your future. No credit, no loans to start a business, to go to school, or to buy a house for your family. It’s a huge deal.