Vivix Credit Solutions points out there are three important ways that credit affects your ability to meet your personal and career goals.

Your credit score can have a direct impact on how much its costs for your borrow money, Vivix Credit Solutions says. If you have a high credit score, you may get a better interest rate on a home or new car, which saves you money. You also can keep more money in your pocket, since your down payment may be lower.

When your credit score is low, financial institutions may consider you a risk. As a result, lenders will make it more expensive for you to borrow money or worse yet, deny you a loan.

Even if you aren’t planning on a major purchase, you want to be in a position to borrow money for big repairs or a medical emergency, Vivix Credit Solutions suggests. With a good credit score, you can maintain a line of credit if something unexpected comes up.

You may not realize it but utility companies will check your credit before establishing service, Vivix Credit Solutions points out. This is especially true if you are establishing service for the first time and can’t point a track record of consistent payment. This requirement generally applies to all utility companies, including gas and electric, water and phone. Lack of good credit doesn’t mean you will be denied services, but you will have to pay a higher deposit to get the service.

Vivix Credit Soltuions also notes that car insurance also can be affected by your credit score. In addition to looking at your driving record, auto insurance companies want to know about your credit history. Auto driving statistics indicate that individuals with a better credit record file less insurance claims.

Renting an apartment: When it comes to renting an important, you have an advantage over others whose credit scores may be lower. Good credit assures your landlord that you pay your rent on time.

Getting a job: More and more, companies are checking credit scores of prospective employers, Vivix Credit Solutions points out. A low credit score tells says something about your sense of responsibility. Also if your debt is too high, the company may be concerned the salary it is offering is too low for you to meet your financial obligations.

Becoming an entrepreneur: If you have an entrepreneurial opportunity, you may need a significant amount of financing to get your business off the ground or to take it to a new level. Being unable to qualify for a loan can end the dream of having your own business.