A
poor credit score will make it difficult for you to earn the trust
of lenders, insurance companies and prospective employers, among others, whereas a positive
score will have the opposite
effect.
In both cases, misunderstanding the
effect of compound interest rates and repayment obligations involved in using a
credit card or accepting a student loan can lead to
poor decisions that may ruin an individual's
credit score and opportunities for future use
of credit.