Credit score: Why is it important?

4 minutes

Your credit score is vitally important when you want to borrow money. Watch this jargon buster video to find out what it is and how to keep yours healthy.

Your credit score is very important when you apply to borrow money – whether that’s from a bank, for a credit card, or even a phone payment plan. The lender will look at your credit score to help them decide whether you are likely to repay the money you have applied to borrow. Watch this jargon buster video to learn more about how your credit score is calculated and the actions you can take to ensure you maintain a healthy credit score for the next time you want to borrow.

Davidson Institute

Was this helpful?