CNN BUSINESS | Don’t believe these 8 common credit score myths

You probably already know that you need a good credit score to get the best interest rates on a mortgage or auto loan, which can make a big difference to your budget over time.

“With something like a mortgage, even a minor difference in rates can have a big impact on your monthly payment and can mean tens of thousands of dollars or more over the life of the loan,” said Justin Pritchard, a certified financial planner and founder of Approach Financial.

But that’s just the beginning of how the three-digit number impacts your financial life.  –read more–