There are a number of ways you can benefit from having a high credit score, but the bottom line is simple: It can save you money.
Your FICO score, which reflects your credit report, ranges from around 300 to 850. A score below around 650 is considered problematic, while an excellent score of around 750 or above will get you the best rates.
The average score hit 704 this year, which is an all-time high. That's just about the bottom of the "good" range, where you're considered prime and will typically qualify for a loan. So if you're average, congratulations! You're in good shape, and you're not far from where you need to be in order to get the most attractive deals.
That said, there's no need to fuss over getting a perfect 850, since the perks are the same no matter where your score lands within the "excellent" range. A 750 will serve, and "obsessing over a score of 800 versus 820 is largely a waste of time," Greg McBride, chief analyst at Bankrate, tells CNBC Make It.
Here are three reasons it's worth doing the work to get to "excellent" in 2019.