Why is my credit score important?

Your credit score is important as it is used to determine your creditworthiness. This score is important when you are renting a new home, buying a home or trying to get any other type of loan. Your credit score is used as a tool by lenders to determine your your capacity to pay back a loan and the likelihood you will. Your score will affect the loan amounts, interest rates made available to you and may be used an an indicator of your character by future employers and landlords.