10 Loopholes You Can Be Utilizing With Your High Credit Score

credit score loopholes

Having a high credit score is a good thing for reasons aside from just the obvious. Everyone knows that your credit score is the single most important number in your life, and that’s because this number is so telling. It tells creditors if you’re responsible. It tells lenders they can trust you. It tells so much about you that you don’t even realize, and that’s just one of the many reasons that so many people work so hard to keep their score high and their debts low. Of course, many people work harder than others, and everyone has a different story. For the person whose identity was stolen, a low score is so much more devastating than to the person who irresponsibly uses their credit for no good. But there are some perks and benefits of a good credit score that you might not even realize exist. Aside from the obvious, such as being able to buy a home or a car and apply for credit cards, your high credit score can do so much more for you.

Vacation Home Rentals

Did you know that you could run into trouble renting a home for vacation if you have poor credit? That’s right; you could find out that someone doesn’t want to rent their home to you if you have a bad credit score. But if you have a high score, you can even negotiate lower deposits and rates with rentals because of your trustworthiness.

Negotiation Skills

Anyone with an impressive credit score is able to negotiate amazing rates with lenders. You have a great score, and that means banks and lenders want you. You are the ideal customer; someone with a high score that comes in looking for a loan. You are a sure thing, which means they do not want to lose your patronage.

The Best Credit Card Deals

When you have a high score, you get the best deals. Those low interest rates; those are yours. The best cards; those are yours. You get to pick and choose which cards you want, which means you can afford to be particular in the card that you carry. Only the best for those with a high credit score. You do not have to settle for anything you do not want.

Free Money

Yes, so this is a total possibility. The best credit cards on the market offer the best rewards, and that usually means amazing cash back rewards. You can shop around, choose an amazing card with an amazing cash back program and know that you can apply for it with low rates and bigger perks, and you can earn money on everything you purchase. Depending on your spending and pay off habits, you can earn thousands in free money every year.

Amazing Car Leases

You know that really expensive car you’ve always wanted to drive but can’t afford? Well, you might be able to afford it. In fact, if you lease it, you might be able to afford it more than a car with a much lower price tag. That’s because car dealers like to offer very low lease rates to those with the very best credit scores. If you have an 800 credit score, you could drive a high end luxury car for less than $200 per month depending on current offers and incentives.

Easy Refinancing or Mortgage Applications

Rates drop, rise and change on a daily basis. This means that the house you purchased last year might be a lot more affordable for you if you are able to get it at a lower rate, and having a high credit score makes this very possible. You will be able to qualify for the lowest rates around, which is a huge plus. Unlike others that have to shop around for good rates and hope they are approved, you can do it easily.

Save Money on Utilities

If you are moving and need to have your utilities turned on, you can do it without paying a deposit. Your amazing credit score will waive the deposit and fees that are so often required by utility companies who are turning on utilities for renters and homeowners. Make sure that you know to tell the company this so that you aren’t cheated, however.

Save Money on Cell Phone Plans

Another great tip for utilizing your high credit score is on your cell phone plan. Many people find that their cell phone plans are not all that amazing when they have to put down a huge deposit on what they want. However, if you have a high credit score, this is not a problem. You will be able to put down nothing and get the plan you want with the carrier of your choice.

Cheaper Car Insurance

Some people are well aware of the fact that many car insurance companies are looking into credit scores to find out if they are worthy of low rates. However, what you don’t know is that you can actually get a lower rate with a high credit score. You have to ask for it, however, most of the time. Some insurers will tell you upfront that your high score has qualified you for a nice, low rate. Others will not mention it to you and if you do not mention it to them, you will not get it.

Travel Upgrades and Perks

Oh yes. Here is my favorite. This goes back to the credit card offers. When you are a consumer with a very high credit score, you qualify for some of the best card son the market. When you are able to carry some of the best credit cards on the market, you get many free and upgraded things. For example, if you have an amazing credit score, you can get cards that no one else can get. Retailers recognize these cards and the perks that go along with them. Use this to your advantage for free nights, free upgrades, free flights and everything else you’ve ever wanted.

Photo by Neilson Barnard/Getty Images for Land Rover

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