Your credit score gives you an overview of how lenders view your creditworthiness; the extent to which a person or company is considered suitable to receive financial credit, often based on their reliability in paying money back in the past.
Lots of people these days find themselves with a bad credit scores.
Your credit score is a vital part of your life as this will determine how successful you will be when applying for affordable finance, if you have a bad credit score you will find yourself being declined by mainstream. Lenders will look at your credit score before anything else and if it is not up to scratch you will find yourself being declined, and if you are declined this will impact even further on your existing credit score.
There are a few credit reference agencies out there but the main ones are Experian and Equifax each one will probably have a different credit score for you, for example if you have good credit with one you may fall into poor credit with the other. Each time you apply for finance from a lender that lender will then allocate you