People start their financial lives with the best of intentions. As life goes on most of us find unexpected bumps in the road — a car repair, a new roof, an unexpected injury, or the loss of a job to name a few. In spite of what happens you must never forget that your credit rating is what makes many things in life possible. As hard as it may seem, you must retain good credit standing. Your credit vouches for your good name and will be checked in the following cases:

Purchasing a car, boat or large item
When renting a house
Buying a house
Applying for a credit card
Securing a job
Obtaining financing to open a business

Do not underestimate the value of good credit. The unfortunate reality is that the people with the best credit pay the least interest on loans and credit cards, and have much greater borrowing power.