Credit & You... Here's A New Concept.
Okay, you probably get the idea that your credit score is important. But your credit score is only important because of something called "risk-based" financing.
Risk-based financing determines what interest rate you will pay, based on your credit score.
"Risk-based" financing says you pay higher rates if your risk of not doing what you say is higher.
And that risk is measured by your credit score.