Your credit rating will most likely determine whether or not you become a homeowner. Home loans, home equity loans and re-financing are only made available to those with a good credit rating.
Your credit rating may also impact your ability to rent. When a landlord conducts a background check, he often looks to your credit rating before determining whether or not to approve your application.
Nowadays, having at least one credit card is almost a requirement. A good credit rating will not only ensure that you can get a credit card, but it may qualify you for instant credit with low interest rates. There are a number of credit card perks for those with a good credit rating.
Some businesses won't accept anything but credit cards. Without a high credit rating and the ability to get a credit card, you may be missing out. For example, many airline companies only accept credit cards on board the aircraft.
A high credit rating may save you thousands each year in interest and other fees.