 TITLE: An Essential Guide to How Credit Works CONTENT: Why Is Credit Important?\n------------------------\nFor most consumers, building a solid credit history is an important step in establishing their financial security. Not only is credit important to borrowing at favorable rates, but it can also help you get a job, get into an apartment, lower your auto and homeowner's insurance rates, avoid a deposit on a utility agreement, and more.\nAs you manage your credit wisely, you build overall financial health that can help you achieve your goals. Keeping your credit utilization low, for example, frees up money you can use to put toward saving for a down payment on a car or a home, your retirement, or your child's college tuition. A good credit score will also save you money on loans you take out, again leaving more money available to help you get on strong financial footing.\nSo whether or not you plan to borrow money anytime soon, it's a good idea to have a good credit score. END