Frank Money here, your financial detective trying to save you money. Ok, listen up all you financial hotdogs out there who don’t pay attention to their credit scores. I’m about to give a lesson in world of hard knocks. Let’s cut right to the chase, bad credit will cost you money. If you’re planning to purchase large ticket items like a mortgage, car loan or even another credit card, you’re going to pay a lot more.

Your credit score under FICO ranges from 300 to 850, with the highest being the best score. I’m guessing anything under 620, you’re going to have trouble even being considered with some purchases without paying extra for insurance of payment.

So pay off your credit cards and get rid of the ones you don’t need. Don’t be late with any of your loan payments, and don’t be afraid to check your credit report, it does not affect your score. It will take a couple of years to build your credit back up to a decent score but it’ll be worth it and that’s coming straight from Frank Money.