Credit repair sounds like an ominous thing. You may already know that if you?re going to apply for a home or car loan, you should try to get your Credit Score up. Did you know, though, that even if you aren?t in these situations a low credit score can harm you? Whether your score is low because of inaccurate reporting on the part of the credit bureaus, which is surprisingly common, or because you are drowning in debt, you need to take steps to fix it. Here are the top three reasons to repair your credit score.

• A higher credit score means better rates on major loans, and even credit cards. Even if you aren't applying for a new loan or mortgage right now, you can possibly lower your interest rates by improving your credit score by just a few points. Even one percent difference in a home loan can drop your mortgage payments by hundreds a month and your overall interest payments by thousands over the life of your loan.
  
  

  Right now is an excellent time to refinance homes and cars, and it's a great time to ask for a lower rate on your credit cards. You can save tons of money each month if you repair your credit and then refinance these items.

• Your credit score can affect your ability to move around in life. If you?re a renter rather than a homeowner, you might think that your credit score doesn't matter at all. This is definitely not true, though. Most landlords will check your credit before approving or denying your application for an apartment or rental home.
  
  

  Basically, your credit score becomes a character assessment that lets a landlord know whether you're likely to pay rent on time or not. If you could possibly be moving in the next few months, your credit score needs to be high before you apply for places to rent.

• Your credit score can actually affect your ability to find a job. This can be true no matter what type of work you do. Again, your score and report are character assessments that show how responsible you are with your money. If you're responsible with your own money, the logic goes, you'll also be responsible in your job and with your company's money. A low credit score may keep even an otherwise wonderful applicant from getting a job!

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