Even if we don’t see it or think about it often, a credit score is an essential part of our lives. It’s a very important financial measure as it is used by a variety of businesses to assess the risk you pose. Lenders use this score to decide whether to give a loan and what terms to offer. A bad credit score could result in much higher interest rates. Utility or mobile phone companies may use your score to decide what kind of deposit will be required when doing business with you. Landlords may use credit scores when deciding whether or not to rent to someone, and employers sometimes check the credit history of job applicants.