
Your credit score can be easily damaged, and the damage tends to stick around for a while. Just one missed payment, or going over on your credit card limit by a couple of dollars without realizing it, can cause considerable damage to your credit score that’ll still be visible to potential lenders years down the line. Many people who are now great with managing their money find that their credit score is tainted due to mistakes that they made whilst they were young; for example, if you took out a credit card in college that you struggled to repay on your student budget, then this could have a huge negative effect on you in later life. You may have problems if you try to buy a new house, or start your own company and want to borrow a business loan from the bank. Also, if you want to rent office space, you will need a very good credit score as well.















