I learned about the importance of credit score

Credit score is?:

• a statistical method to determine the likelihood of an individual paying back the money he or she has borrowed.

How to build a good credit rating?:

• The way to have a good credit score depends on many things for example how much money you owe,
• if you pay your debts on time,
• or how many times credit have been used,
• also how many credits do you have.

What is going to happen if i have a bad credit score?:

• lenders will not shun you unless your credit rating is utterly bad instead they will lend you money at a higher rate than the one paid by someone with a better credit score
• If you don't have a good credit score some banks will deny your credit application for a loan because they are in risk that you might not pay it back

What is FICO?:

• A type of credit score that makes up a substantial portion of your credit report that lenders use to asses an applicant's credit risk and whether to extend the loan.