Your credit score is an important number, namely because it tells borrowers how much risk they're taking on in loaning you money or extending credit to you. If your credit score is high, it sends the message you can be trusted with a line of credit or loan. And as a result, a credit card company or lender might reward you with a lower interest rate on the sum you're borrowing.A poor credit score, on the other hand, tells lenders that you're more of a risk. And so you might get stuck paying a higher interest rate on a loan if your credit score isn't in the best shape.

https://www.fool.com/the-ascent/credit-cards/articles/can-timely-utility-bill-payments-help-your-credit-score/

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