Rental rates, insurance rates, automobile loans, home mortgage loans and even job placement all are subject to your credit report and credit score.
With good credit, you will have a much better chance loan approvals and lower interest rate offers on many of these financial products with lenders, banks and financial institutions.
Your credit score and your credit report are not always regarded or evaluated the same way.
For example, you may have a 700 credit score, but your credit report may document a number of reported outstanding debts, unpaid balances and a not to impressive payment history.
In Which, your credit report and credit score will end up being the determining factor in your approval or rejection process.