What you need to know about Credit Scores
A credit score is a numeric value placed on how credit worthy you are. That means your ability to borrow money. It uses many factors to determine this, such as how much you have already borrowed, whether you are at the top end of your credit limit (maxed out credit cards) whether you pay your bills on time and more.
In most cases, lenders (from mortgages to interest free credit sofa companies) will use your credit rating to decide whether to lend you money and how much interest to charge you.