A credit score is a three-digit number which helps lenders decide whether to offer you credit, such as a credit card or loan. Essentially, your credit score is an indication of how much risk you pose as a borrower.
The higher your score, the more likely you’ll be considered low risk. If a lender considers you to be low risk, they’re more likely to accept your credit application and offer you the best rates.
So it’s worth making sure your credit score is as good as it can be before you apply for credit so that you’re eligible for better interest rates.