why is it better to have a high credit score than a low one?

It is better to have a high credit score than a low one because a high credit score generally leads to lower interest rates on loans and credit cards, saving significant amounts of money over time. It also increases the likelihood of qualifying for credit, renting apartments with better terms, obtaining lower insurance premiums, and accessing better rewards and higher credit limits on credit cards. Additionally, a high credit score often helps secure favorable terms for utilities, telecommunications, and loan negotiations, thus offering overall greater financial opportunities and savings.