With 2018 coming to an end, you’ll want to make many key decisions in regards to your finances. One of the best things you can do is review your credit report and score, all with the idea of changing things for the better as we move into 2019.

If you have an excellent credit score – typically considered 800 and above – you may not have much room for improvement. However, if your score is in a lower tier, there’s a good chance you can make some serious progress in the months to come.

Here are five of the best reasons to improve your credit score in 2019:

  • Easier to secure a loan: It doesn’t matter if you want a loan for a home, car, or another important purchase, a high credit score will go a long way in helping you secure the funds you require.
  • Lower interest rate: It’s one thing to secure a loan or credit card, but another thing entirely to do so with the most favorable terms possible. A high credit score generally puts you in position to secure the lowest interest rate offered by a lender.
  • More affordable car insurance: Car insurance companies consider your credit score when providing a rate quote. This isn’t the only thing they look at, but it’s a factor that comes into play. It’s nice to save money on car insurance, so let your high credit score work in your favor.
  • Approval for higher limits: For example, if you want a higher limit on your credit card it’s easier to receive approval if you have a high credit score. This shows your issuer that you’re responsible enough to handle the increase.
  • Peace of mind: An excellent credit score doesn’t mean you’ll earn more money. It doesn’t mean you’ll never make a financial mistake. However, it does put you in position to take advantage of many financial rewards (see above). This alone should give you some peace of mind.

These are among the top reasons to improve your credit score in 2019. As you begin to make progress, you’ll wonder what took you so long to take action.

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