Most people are aware of the most obvious reason to have a clean credit report. Lenders heavily weigh your credit rating when considering whether to extend credit and at what rate. The worse your credit score, the more likely in their eyes you are to default on a loan and the more they will have to charge in interest rates.

Because having negative information on your credit reports is the quickest way to damage your credit score, maintaining a clean credit report or working to clean a damaged report is one of the best things you can do to increase your credit score and become a more qualified candidate for low interest loans.

But that is only one benefit of having a clean credit report. Even if you have no intention of purchasing a new home, buying a car, or refinancing an existing loan, making sure your credit reports are as good as they can be still provides other rewards.
Potential Employers like a High Credit Rating
Credit reports aren't just used for credit anymore. Many employers today will want to take a look at your credit reports as a part of the application process. Before making a commitment on you, employers want to do their homework and for some, that investigation involves seeing how responsible you have been with your finances. Late payments, collections accounts, and court records on your credit reports could be a red flag that you may not be trustworthy.

As a result, having a clean credit report may be another qualification you need to get that new job.
Credit Card Providers May Keep Tabs On Your Credit Reports
Even if you already have a low interest credit card, you should be careful to maintain a good credit score because that rate isn't always set in stone. Many credit card contracts feature what is known as a "universal default" clause in which credit card providers reserve the ability to jack up your interest rates if you are late on any payments, not just your credit card.

Come in thirty days late on your car payment and your credit card interest rates could double or triple as a result.
Your Car Insurance Rates Probably Take Your Credit into Account
Most auto insurance providers today will want to see your credit rating before they will be willing to issue you a policy. The rationale is simple. According to statistics, drivers with poor credit scores file more claims that people with good credit scores. As a result, car insurance providers can elect to deny consumers with low credit score or insist they pay higher premiums.

If you have a high credit score, however, this works I your favor because, as a lower risk client, car insurance companies can get by with charging your lower premiums.