If you have a good credit history, your credit options are numerous.
Because interest rates greatly affect monthly payments, obtaining a low
rate on a home loan or auto loan may actually decrease your payments by
a few hundred dollars. In this case, having good credit increases your
purchasing power, allowing buyers to afford more for their money.

Having good credit also makes obtaining a loan approval much easier.
Many people apply for credit with prime lenders. However, these lenders
favor borrowers with a good credit history. This consists of making
regular payments, keeping low debts, etc. If a credit report does not meet
a prime lender’s criteria, these applicants must seek alternative
lenders.