If you’re not planning to buy a house, you don’t need to worry about your credit, right? Well…no, not exactly. While that may have been the case years ago, a high credit score can save you both money and hassle in a variety of ways today. Some of them might even surprise you.

Rock-bottom interest rates

OK, so this one isn’t surprising. If you’ve made a large purchase that requires a loan, you quickly learned that a high credit score is prized for getting the lowest interest rates. If you don’t have an eye for the long-term and only consider the monthly payment, however, you might not think a point or two of extra interest is a big deal. After all, the difference per month is usually pretty small. Since large loans of this type span years or even decades, that small difference adds up to big money. In the long run, you’ll wind up shelling out thousands more than you would with a lower interest rate. 

Good credit gets you good credit cards

If you’re not wealthy enough to walk around with wads of cash in your pocket (Who does that anyway, wealthy or not?) and you don’t want to write checks for everything (Again, who does that?), you’re going to need a credit card. They’re handy, useful and provide a level or protection that cash and checks do not.

While the functionality of all credit cards is the same—spend money you don’t have to carry and pay it off later—all cards are not created equal.

Your good credit rating is highly coveted by lenders, and that includes credit card companies. And bonus: they’re willing to give great perks to those with excellent credit. Similar to loans, a low interest rate on your balance is the biggest perk. In a perfect world, you’ll pay off the card each month, but if not, your interest rate will be low enough to make carrying the balance far less painful.

Depending on which company offers the card, other perks might include travel rewards, special deals at select retailers, cash back offers and balance transfer opportunities. Let’s be honest. Who doesn’t want to be rewarded for spending money?

Pay less for insurance

Insurance is one of those things we’re really thankful to have when we need it, but paying for it when we don’t need it is painful. All that money was spent simply to protect us from a worst-case scenario. So, why not pay less for this vitally important—but pretty boring—service? 

Good credit can help you do that. According to credit bureau Experian, a low credit score alone can’t be the reason you’re turned down, but a high credit score can snag you a lower premium.  

Can you hear me now?

This one might surprise you. Or maybe not, depending on your current credit score. According to LaToya Irby’s 9 Benefits of Having a Good Credit Score, without good credit, you might not be able to land a cell phone contract. Even if you do get a contract, the company may require you to pay extra until you’ve established yourself with them. Having good credit, on the other hand, can sometimes help you avoid a security deposit or net you a tidy little discount on your new phone.

Your newest pick-up line

Imagine meeting someone, smiling and greeting them with, “Hi! I’m Savvy McSaverson, credit score 865. And you are?” 

No? Not your preferred opener? Fair enough. 😉 Honestly, a good credit score doesn’t guarantee success in relationships, but it can make life easier in lots of other ways. We’ll leave the relating up to you.