Why is Your Credit Score Important?

Your credit score is important because it affects your ability to qualify for loans, credit cards, and other forms of credit. Lenders use your credit score to assess the risk of lending you money and determine the interest rate and terms of your loan. A higher credit score can result in lower interest rates, higher credit limits, and better loan terms, while a lower credit score may lead to higher interest rates, lower credit limits, or even loan denial.