What is credit score?

Low credit scores can affect the lives of young adults long before they care about what their credit score is. It is important to start building credit in high school. However, many young adults do not have a clear understanding of what a credit score is.

According to Investopedia.com “A credit score is a number ranging from 300-850 that depicts a consumer's creditworthiness. The higher the credit score, the more attractive the borrower.” Credit score is something that banks use to determine your worthiness when paying back money. The higher the score the better it is when asking to borrow money or property such as loans and financing cars and other products. In most cases credit is the biggest factor that businesses look at when you are requesting to finance something, even renting an apartment the owners look at this is, just to do a background check on how you pay your bills.