If you’re stressed about outstanding loans and high credit card balances, it can be easier to avoid thinking about your credit score altogether. However, understanding why a good score is important is the first step to finding the motivation to improve your score. A high score carries many benefits down the line and actually ends up saving you a lot of time and money. As a reference point, a strong credit score is usually considered to be 800 points or above. Here are a handful of unexpected ways having a high credit score pays off.

1. Better Credit Cards – If you’ve maxed out all your current cards, maybe pay those off before thinking about applying to another card. A higher score will enable you to be accepted for credit cards with lower interest rates and more benefits like cash back rewards and airline travel miles. Also, you can get cards with higher limits, which ultimately will boost your credit score even more… That is, if you can manage to keep your utilization rate down (ideally between 10-30%).
2. Score A Job – According to a 2012 study reported by Forbes, 47% of employers check a potential employee’s credit score before deciding to hire. Although some believe this practice to be controversial or unfair, pre-employment credit screening is entirely legal. Employers want to know that you’ve been responsible with your money and don’t have a string of financial problems lurking in your past. If an employer is deciding between you and another candidate, your credit score could be a make or break factor.
3. Improved Romantic Prospects— If you’re having trouble finding a partner, your credit score could be a factor! Research reveals another highly unexpected perk of having good credit in modern society. A recent survey, reported by Bloomberg, showed that 69% of respondents said good credit “is a very or extremely important quality in a potential mate”. Respondents rated good credit as more important than even humor, attractiveness or ambition.
4. Waived Security Deposits—Your credit score can be a factor when it comes to apartments, housing, vacation and car rentals, and even phone, internet or utility contracts. Property, rental and utility companies will be more likely to offer a lower or waived deposit fee if they see that you have a history of paying on time and in full.
5. Attractive Loan Rates— Banks look at your credit score before deciding your rate. Being able to show a good score can save you a heap of money in interest over the course of months or years—considering it could mean the difference between an interest rate of, for example, 10% or 20%. Of course, even with a poor credit score, you can still find companies that accept you, but it’ll probably come at the cost of a super high interest rate.