I never really care about credit score until I came here in the US 8 years ago. I never liked having debts so I was debt free when I was still in my country. I live off of what I earn so I don't incur any loans or whatsoever that would make my head ache when it comes to paying dues. However, when I came here, my husband explained to me the importance of building your credit especially that we were planning to buy our own place then. From then on, I started building a good credit by paying our dues on time and paying more than the due amount is asking for.
When my husband and I paid off our car loan before we came back here from Korea, our credit score went up higher and we were able to refinance our home loan with a much lower interest. So now, instead of paying 6.25%, we are only paying 4.62% of interest to our home mortgage. It's a big relief for us especially that my husband is retired already and the retirement pay is just enough for our needs and other savings.
Do you know that finding a great mortgage rate is easy when you have excellent credit scores? I know that you know it already but if you have a higher interest rate on your loan and you know that you maintain your good credit practice, you might want to check your credit score to see if you can qualify for a much lower interests on credit and any other kinds of loan. As PerfectScoreMortgages.com states, Perfect Scores, Perfect Credit means Perfect Rates on mortgage and other forms of loans. Check out the website and read their useful articles on confirming loan limits, fixed vs. adjustable, Interest Only Mortgages, Bank or Broker and a lot more.