In Canada everybody take his/her credit seriously. Good credit would help you to win respect from others and make your life easy. It is much more valuable than merely $50.
In North American, there isn't 人事档案 in your work unit like in China, but some government institutes and private institutes (like GE Capital) keep everything for everybody in their computer systems. Once you have a bad record there, you never be able to wipe it out. This kind of control is acutally much more efficient and centrilized than that in China. A bad record may make your life 步步艰难 in the future.