(1 point)
to demonstrate professional success
to act as a role model for your coworkers and friends
to have something valuable for your children to inherit
to increase your ability to get a loan and get more favorable terms
The main reason to build a high credit score is to increase your ability to get a loan and obtain more favorable terms. A high credit score signals to lenders that you have a history of responsibly managing credit and are less likely to default on your obligations. This can result in you being offered lower interest rates, higher loan limits, and more flexible repayment options. Therefore, having a high credit score can save you money in the long run and make it easier for you to achieve your financial goals. The other options mentioned, such as demonstrating professional success, acting as a role model, or leaving an inheritance, are not directly related to the benefits of a high credit score.
