Possibilities of Good Credit

What are the benefits of a good credit score?  First of all, what does qualify as a good score?  The line drawn might differ depending on who you ask, but a 740 or higher would put you in the top third of Americans.  It will get you some of the lowest rates on home and auto loans.  However, a good credit score also gets you lower rates on credit cards and better cash back deals.  Also, when purchasing a car and looking for financing, dealers will typically be locked into preset rates for financing; but, you could talk about finding better loan offers elsewhere to leverage in negotiating the sticker price.  If you are looking for a vacation home or (more likely for college students) a place to rent, a high score usually is a sign of a responsible tenant which will help again in your negotiations for price.