We all know that managing your credit is vital to financial success, but did you know that a bad credit score can hold you back from getting the things you need and use in everyday life? Here are some things that are difficult or even impossible to get with bad credit:

A mortgage to buy a house.
When you’re applying for a mortgage, the difference between a mediocre and a great credit score could cost you tens of thousands of dollars in interest over the life of the loan – or even get you flat out denied!

An apartment to rent.
Maybe you don’t qualify to buy a house because of your credit score, but you can still easily rent an apartment or house, right? In fact, many private landlords and property management companies check your credit score these days, and their credit requirements are becoming more stringent.

A cell phone contract.
Cell phone carriers gauge risk just like any lender because they don’t want a customer running up a big bill and then disappearing on them. So carriers like Sprint, Verizon, and AT&T will run your credit to make sure you’re not a gamble.

Some jobs.
Increasingly, employers are checking the credit reports of perspective employees, especially for government jobs or jobs in the financial sector where handling money is involved. It’s estimated that now about 47% of employers do credit checks as part of their background investigations before hiring.

Auto financing.
You’ll probably want to take out a loan when you buy a car, but without good credit, you’re likely to be charged exorbitant interest rates and have to put down a huge deposit, or you might get denied outright.

Credit from a jeweler.
Most jewelers want to see a 700 score before they issue a loan, and even installment loans for smaller items require at least a 640. 11

A credit card.
You’ll only get approved for the best credit cards with the best interest rates if you have good credit. If not, you’ll be charged higher interest, higher fees, or might even get shut out of credit cards completely, and need to start with a secured card.

Financing for medical care.
The majority of health insurance plans don’t cover major dental work or elective procedures. But if you have bad credit, you’ll be denied and won’t be able to get that procedure or surgery you need.

A business franchise.
If you wanted to become the owner of an established franchise, like a Subway or a Baskin Robbins or any other, a bad credit score will block you from the franchise financing, result in a higher down payment, and also stop you from getting a commercial lease.

A business loan.
If you want to take out a line of credit or business loan from the bank, they’ll want to see good credit. With a score lower than 640, the bank will almost always automatically deny your application.

A student loan.
There are some federal student loans that don’t factor in credit scores, but most of them require a solid credit history.

Car insurance.
Insurance companies now check credit, and you’ll pay a higher premium with a lower score.

A personal or bank loan.
Just about any other time a bank or financial institution is set to lend you money, they’ll require a credit check to make sure you are a good financial risk.